Reverse Mortgage AgeAge of the reverse mortgage
AAG reverse mortgage specialist - Home
At 10,000 baby boomers turning 62 every day, most pensioners will not be able to finance pension due to longevity and a variety of adverse moneys. is that the vast bulk of net incomes in property for many...specifically home equity. What is the most important...is that the property is a property. Only 3 ways to use it: to resell the home (unacceptable for over 80%); to receive a hill and make periodic monetary payment; or to receive a reverse mortgage without periodic mortgage payment; FHA insures; to keep full property (must keep tax, health care and home in good working order); old on the spot; to give all residual own funds to the inheritors; to have Peace.
Possibility of reverse mortgage to complement the pension: the case of Chile
In some industrialised nations, reverse mortgage lending has been introduced as an alternate to the generation of retired cash flow streams. However, since the risk associated with a lower old-age incomes is usually masked by a broad spectrum of financing resources, this article analyzes the possibility of reverse mortgage as an alternate old-age incomes.
The present work concentrates on the case of Chile, on the basis of information from domestic studies describing the behavior of representatives of individuals subdivided into quintile incomes. It has been established that the annuity substitution rate has risen by almost 30 points due to the inclusion of lifetime pensions from real estate portfolios.
Whilst the potentially interesting nature of reverse mortgage programmes is with regard to the issue of age-related risk in the years to come, it is also the case that there are a number of factors that need to be taken into consideration that restrict their introduction in the mortgage markets to some extent.
Among the findings are: housing corporations and finance and insurance corporations are not willing to administer large portfolios of properties, which would necessitate reorganization and the creation of new businesses specializing in this area.