By Prashant Das
Tantalus, the son of mighty Greek god Zeus had all the wealth, but a curse forbade him from consuming it. Real estate ownership by Indian middle-class has a similar story. In recent decades, the net worth of senior citizens has increased, and a larger portion of their wealth is allocated to real estate even as they may not have the liquid cash to meet their needs.
RAM as a solution Reverse annuity mortgage (RAM) is an effective tool to break the Tantalian punishment. It allows senior (60+) citizens to convert their homeownership into cash but keep the roof over their head just as safe and secure. In a typical RAM contract, a lender disburses the loan over 10-20 years in monthly instalments. Homeowners receive a dignified,
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