The use of residential property in the technology of reverse mortgages

Abstract

In this paper, an analysis based on economic, housing and demographic statistics justify the use of the reverse mortgage financial facilities as a private form of commercial financial support service for retirees. The main characteristics and properties of reverse mortgage programs are compared with those of rental housing and the contract of sale with the conditional life and content interest. Furthermore, the advantages and risks of using the mechanism of reverse mortgages for pensioners are ventilated. The article also provides the most comprehensive bibliography and sources of information on reverse mortgages as well as providing a brief description and recommendations for the implementation of this borrowing facility in the Russian economy and society.