Feasibility analysis of "reverse mortgage" from a financial practitioner's perspective.

• Main Authors: Chang,Tien-Cheng, 張天成
• Other Authors: Tsong-Wuu Lin
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/81243638395578118122

碩士 === 東吳大學 === 資訊管理學系 === 103 === The changes in the social structure of population brought the phenomenon of aging and declining birthrate. Labor force need to take responsibilities of the large amount of economic costs, which are resulting by the changes of the population structure. This problem cannot only rely on the labor retirement pension and social welfare policies to address, which is also a common problem worldwide. In each country, government-university-industry are finding solution urgently, and through the "reverse mortgage (Reverse Mortgage, referred RM)" is the most be respected. According to the high proportion of the occupied dwellings in Taiwan, the house can be collateral, and converted into an annuity in the life, also can stay at the home. So it is a high quality selection, which can be effectively used to make up any shortfall phenomenon of social welfare pension. This study will affect six factors of the annuity, that are the presentvalue of the house, interest rates, inflation, housing appreciation rate,life expectancy and employee retirement income. Base on the past statistical data, after a time-series manner derive reasonable estimates, then use the relationship between PV, PMT, FV, RATE, NPER, produce available monthly pension. We adjust it by taking existing bank loans to the general assessments and regions that a house locates at. Besides, we increase necessary fee for application to produce more accurate calculation of annuity value. Comparison of the effects of rent-free and single-premium immediate annuity makes the application more understanding the enhancing effect of earning replacement rate. To add some factors in our study, it may reduce the banks’ risks to raise their willingness to make commitments.