While an increasing aging population has long been a concern among policy makers for the impacts it poses toward the nation’s healthcare and entitlement systems, a new report indicates the Baby Boomer surge may be an over-exaggeration. “The extent, speed, and effect of population aging have all been exaggerated and we should not assume that […]
Category: International
Financial institutions in India expect reverse mortgages will gain momentum in the country following a recent announcement that the annuity component of the home equity-tapping loan will be tax-free, reports an article from The Times of India. Making the annuity component tax-free will pump life into the country’s reverse mortgage popularity, industry observers believe, especially given […]
As the United States government weighs its aging policies in preparation for a wave of baby boomers that will comprise a senior population count never seen before, other countries are seeing success in different models—largely fueled by an aging in place focus. The global aging population is expected to explode, and while the U.S. may be […]
A reverse mortgage pilot program has launched in Taiwan in order to address the rising number of older citizens facing financial insecurity, according to local reports this week. The program will be funded in part through a government subsidy resulting from Taiwan’s lottery revenues. The program, currently set to be carried out through 2017, will […]
Reverse mortgages in Korea may be more positioned for a boom market with applications currently “surging” at the highest level in six years, reports Bloomberg News. In Korea, the JooTaekYeonKeum, or “housing pension” is available to homeowners who are at least 60 years old and have their mortgage paid off in full. An older population […]
Reverse mortgage borrowers will have more flexibility under Hong Kong Mortgage Corporation’s (HKMC) newly updated program. Under the new changes, consumers will receive a discount in computing specified home values for properties worth over HK$8 million ($1 million). For existing borrowers with values over HK$10 million ($1.3 million), they may choose to receive a higher […]
While reverse mortgage production is down in the U.S., the business is booming in Canada where HOMEQ Corporation (HEQ:CN) today announced an 18% rise in originations in the third quarter of 2012, to $65 million. Its overall mortgage portfolio grew 13% to $1.3 billion. Through its wholly-owned subsidiary, HomEquity Bank, HOMEQ Corp. originates and administers […]
The Hong Kong Mortgage Corporation Limited (HKMC) announced several improvements to its reverse mortgage product this week. Designed to improve the product for consumers, HKMC said it’s increasing the maximum property value payout from HK$8 million to HK$15 million and is lowering the the minimum age of borrowers from 60 to 55 years old to accommodate early […]
A reverse mortgage company is conducting a feasibility study in Thailand for a home equity product geared toward homeowners who are over 60 years old and are unable to qualify for a traditional mortgage. The Secondary Mortgage Corporation (SMC) plans to be the country’s first to offer this type of loan, according to a report […]
A majority of Australians are supportive of the use of reverse mortgages in retirement if provided as a government program, according to a national study conducted by a senior advocacy non-profit. However, the population is not supportive of the mandatory use of home equity to pay for long term care. The results of a survey […]
