주택연금 활성화 방안에 관한 연구

A Study for Activation of Reverse Mortgages

As the population ageing is proceeding with increasing speed, preparation for long-term old age is becoming a pending problem. For most old people, their home is the single largest asset they own. According to the survey of Statistics Korea in 2013, 67.8 percent of households assets tied up in real estate. Nevertheless, the homeowners age 65 and older nealy don t use their real estate for preparation for their old age that the portion of real estate financing marks only 13.6 percent. This phenomenon represents that diversified methods for financing through real estate such as reverse mortgage are required. Reverse mortgage is a loan available to homeowners who are 60 years or older that enables them to convert real estate in their home equity into cash. Reverse mortgage is a special type of home eqity loan that the borrowers need not pay monthly reverse mortgage payments. Reverse mortgage is regarded as good item for seniors because it allows them to access the home eqity they have built up in their homes without selling the housing. However reverse mortgage need to be improved by adjustment of guarantee fee, regulation for foreclosure of paid pension, and strengthening of consumer protection through prior education and counselling by financial specialists.