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영어

This paper reviewed previous research of changing characteristics of preliminary homeowners and borrow's reverse mortgage and to explore new changing from 1999 to 2009. The framework used in this study was binary logit model and a questionnaire survey from aged 40 to 60's preliminary homeowners in the Seoul Metropolitan Area. Major findings are as follows 1) The significant variables of a strong demand for reverse mortgage when they retired or become older, are marriage, higher education level, residential apartment, high concern of reverse mortgage. but not married children, higher age, more healthy, big size house are demonstrated a negative preference. 2) Many of the older(about 76.9%) are at risk of having insufficient resources in retirement, and they have owned over 30% as real estate resource. 3) The answer which have a positive preference to be use a reverse mortgage is clearly increased. 4) The willingness of passing their properties to next generation clearly improved for few years. 5) The reason which will not use reverse mortgage is because of resistance to reverse mortgage generally or more specific difficulties with the products that are available is unclear at this point. Reverse mortgages provide a means for elderly and aging to access their home equity while continuing to live in their homes. This could be an effective means for reducing poverty among the elderly. Due to the demographic development in Korea, it is better option for the government to improve the economic status of the aging population in the coming two decades, government might even supply promotion to spread nationwide rapidly.