역모기지 제도에 대한 고령자의 의식조사에 관한 연구

Abstract

Reverse mortgages offer seniors the ability to retain their personal and financial independence. Unlike a traditional mortgage that people make payments on each month, reverse mortgages provide payments to the older - in effect 'reversing' the direction of the mortgage payments. The overall populations of this country are aging and the number of elderly populations has been gradually increased. Aging society is on of the most representative demographic characteristics in Korea. National Pension that is an income security program to provide against loss or reduction of earnings ability mainly due to old age, however, is not enough to cover the living costs of elderly households and other financial systems for the elderly did not established. Therefore, the elderly people who are house rich but cash poor will meet some difficulties in obtaining the monthly living expenses and it will be deteriorated. The objectives of this paper are to suggest a new housing financial model for the Korean elderly through the income conversion of housing assets, and to analyze its potential demand by surveying elderly people living in Seoul Metropolitan. The result of survey shows that the elderly in Korea feel unsecure to their remaining life in terms of monthly income. They also do hesitate to inherit their housing and furthermore do not want to be supported by their grown sons. It means that the liquidation of elderly housing assets can significantly contribute to improve the income shortage of elderly households. Finally, This paper suggests that the reverse mortgage is one of the most feasible policy alternatives to solve the monthly income shortage of the Korean elderly.