Academic literature on the topic 'Reverse Mortgage loans'

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Journal articles on the topic "Reverse Mortgage loans"

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Kuzmina, Elena, and Andrei Ianin. "Modelling the profitability of reverse mortgage loans with life-long annuity payments." E3S Web of Conferences 203 (2020): 05020. http://dx.doi.org/10.1051/e3sconf/202020305020.

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The article deals with the economic mechanism of reverse mortgage as a loan product aimed at raising the welfare of senior citizens who own real estate, for organic farming and soil management. The article discusses the financial and historical aspects of the implementation of the reverse mortgage instrument, as well as defines a potential of implementation of this instrument in Russia. Having identified the potential, the authors also mentioned the factors that could prevent Russian banks from adopting this mechanism. The article addresses one specific factor – absence of adequate instruments
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NAKAJIMA, MAKOTO, and IRINA A. TELYUKOVA. "Reverse Mortgage Loans: A Quantitative Analysis." Journal of Finance 72, no. 2 (2017): 911–50. http://dx.doi.org/10.1111/jofi.12489.

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Lee, Chan Ho, and Yeong Mi Shin. "A Recognition Analysis on Activation of Housing Reverse Mortgage Loans and Mortgage Loans." Journal of Digital Convergence 12, no. 7 (2014): 197–203. http://dx.doi.org/10.14400/jdc.2014.12.7.197.

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Cocco, João F., and Paula Lopes. "Aging in Place, Housing Maintenance, and Reverse Mortgages." Review of Economic Studies 87, no. 4 (2019): 1799–836. http://dx.doi.org/10.1093/restud/rdz047.

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Abstract We study the role of housing wealth in financing retirement consumption. In our model retirees: 1. derive utility benefits from remaining in their home (aging in place); and 2. choose in each period whether to maintain their house. The evidence that we present shows that these features are important in explaining the saving decisions of the elderly. The costs and the maintenance requirement of reverse mortgages (RMs) reduce (or eliminate) the benefits of the loans for retirees who wish to do less maintenance. We evaluate the impact of different loan features on retirees’ utility, cash
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Lorenzo, Giovanna Di, and Massimiliano Politano. "The Covid-19 Effect on Security Mortgage Valuation." Journal of Statistics: Advances in Theory and Applications 25, no. 1 (2021): 13–26. http://dx.doi.org/10.18642/jsata_7100122193.

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The reverse mortgage market has been expanding rapidly in developed economies in recent years. Reverse mortgages provide an alternative source of funding for retirement income and health care costs. We often hear the phrase “house rich and cash poor” to refer the increasing number of elderly persons who hold a substantial proportion of their assets in home equity. Reverse mortgage contracts involve a range of risks from the insurer’s perspective. When the outstanding balance exceeds the housing value before the loan is settled, the insurer suffers an exposure to crossover risk induced by three
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Choi, YoonJung, and Yoonkyung Yuh. "The Effects of Reverse Mortgage Loans on Poverty Alleviation." Journal of Industrial Economics and Business 33, no. 1 (2020): 201–20. http://dx.doi.org/10.22558/jieb.2020.2.33.1.201.

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Wang, Ping, and Ji-Pyo Kim. "The Value of Reverse Mortgage Loans: Case Study of the Chinese Market." Journal of Asian Finance, Economics and Business 1, no. 4 (2014): 5–13. http://dx.doi.org/10.13106/jafeb.2014.vol1.no4.5.

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Laufer, Steven, and Andrew Paciorek. "The Effects of Mortgage Credit Availability: Evidence from Minimum Credit Score Lending Rules." American Economic Journal: Economic Policy 14, no. 1 (2022): 240–76. http://dx.doi.org/10.1257/pol.20180229.

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This paper uses changes in mortgage lenders’ minimum credit score thresholds to credibly identify the effects of access to household credit. Falling under these thresholds has very large negative effects on borrowing for up to two years, and these effects fail to reverse within four years. The effects are particularly concentrated among individuals who have relatively high credit demand and face relatively large contractions in credit supply. In addition, access to new mortgage credit reduces delinquency on nonmortgage debt and appears to spill over to demand for auto loans. (JEL G21, G51, R21
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Jiang, Shan, and Chen L. Miller. "International Real Estate Review." International Real Estate Review 22, no. 2 (2019): 169–96. http://dx.doi.org/10.53383/100279.

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Reverse mortgages generally have open maturity dates. The variability of the exact termination time of a mortgage is one of the most important risks faced by the lenders and mortgage insurers. This paper analyzes the termination experience of reverse mortgages in the United States (US). We find that reverse mortgages can be terminated by three distinct events: refinancing, mortality and mobility. Using the Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (HECM) loan data, we estimate the probability of the termination through individual events. The results show that
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Choi, Kyung Jin, Byungkwon Lim, and Jaehwan Park. "Evaluation of the Reverse Mortgage Option in Korea: A Long Straddle Perspective." International Journal of Financial Studies 8, no. 3 (2020): 55. http://dx.doi.org/10.3390/ijfs8030055.

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This study explored the option value embedded in a reverse mortgage in Korea through an empirical analysis, using the Black–Scholes option-pricing model. The value of a reverse mortgage is affected by the variation in house prices. However, older homeowners using reverse mortgages are able to choose this option due to the unique characteristics of reverse mortgages, such as non-recourse clauses or being able to redeem the loan. This paper found the following results. First, the call option value is 5.8% of the house price at the age of 60, under the assumption of a KRW three hundred million ho
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Dissertations / Theses on the topic "Reverse Mortgage loans"

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Lui, Sai-yan, and 雷世昕. "Road for reverse mortgage programme in Hong Kong : a study of consumer's perception." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2014. http://hdl.handle.net/10722/207665.

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Reverse Mortgage Programme (“RMP”) was launched in Hong Kong on 11th July 2011. It aims to help the elderly to improve the living standard. Since the aging population is getting serious and the lack of comprehensive retirement protection scheme in Hong Kong, a big potential market for reverse mortgage is given which is anticipated that the eligible elderly should eagerly participate to the programme. However, the statistic from the Hong Kong Mortgage Corporation (“HKMC”) showing that the participation rate of RMP is surprisingly low. Up to 31st May 2014, only 624numbers of applications were
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Wong, Sze-wan, and 黃思韻. "A feasibility study of the reverse mortgage programme (RMP) in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2012. http://hub.hku.hk/bib/B48343687.

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Aging problem is continually increasing and fertility rates are declining in Hong Kong. The Government of the Hong Kong Special Administrative Region (“The HKSAR Government”) concerns on the long-term care for elderly people. To compare with other developed countries, the retirement protection for elderly people in Hong Kong needs more comprehensive improvement on long-term care expenses. Actually, not many appropriate options of long-term care expenses are seemed available in Hong Kong. Revere mortgage (“RM”) is a way to unlock home equity into regular cash flows without moving out of the ho
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Zhang, Qun. "MORTGAGE LOANS AND FINANCIAL SECURITY AMONG MIDDLE-AGED AND OLDER AMERICANS." UKnowledge, 2019. https://uknowledge.uky.edu/hes_etds/68.

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Mortgage loan debt is prevalent among middle-aged and older Americans. With higher average outstanding balances, many people are unlikely to pay off their mortgage debt by retirement. Meanwhile, as people age, health shocks are more likely to occur. Medical expenses may compete with mortgage payments and relate to financial insecurity in later years. In order to alleviate financial strain during times of financial hardship, senior homeowners may find reverse mortgage the solution they are looking for. Targeting American adults age 50 and older, this dissertation investigates mortgage loan debt
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Yu, Kin-fai, and 余建輝. "A study of the effectiveness of the Hong Kong reverse mortgage scheme on improving the standard of living for the elderly." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2012. http://hub.hku.hk/bib/B48343808.

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The population of Hong Kong is getting aged which causes a number of social problem and increasing government expenses. These include decline of workforce, increase demand in health care & social facilities. For individual elderly, the longer life expectancy implied an increasing retirement life and subsequent expenditures. One of the ways to solve the problem is reverse mortgage. It is a financial scheme that helps liquidate the home asset of the elderly homeowner in return of a stable cash stream; by using the self-occupied home as collateral while the elderly are still allowed to line in t
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Setterqvist, Viktor, and Jacob Bergman. "The Implementation of Reverse Mortgage in Sweden : A Financial Institution Perspective." Thesis, Umeå universitet, Företagsekonomi, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-85355.

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The purpose of this research is to understand and describe the causes affecting the financial institutions’ implementation of reverse mortgage in Sweden as well as the consequences of a large scale implementation, shedding some new light upon the issue of reverse mortgages. This was done from a financial institution point of view. As existent literature in this field of research is currently small in extent, especially in a Swedish context where almost no academic literature has been written, it serves as an exploratory research. From a researcher’s point of view it could hopefully give intere
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Yen, Hsiu-Jung, and 嚴秀容. "A Study of Factors that Influence Reverse Mortgage Loans." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/70621535377441516557.

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碩士<br>銘傳大學<br>財務金融學系碩士在職專班<br>101<br>The aim of this study is to investigate the factors that influence consumers’ acceptance of reverse mortgage loans. Quantitative data is obtained by using the questionnaire survey. Firstly, this study uses principal component analysis to extract factors that influence consumers’ acceptance of reverse mortgage loans. Secondly, this study employs the ANOVA test to examine if there are differences among groups based on demographic variables such as age, gender, marriage, etc.. Finally, this study uses the regression analysis to test the effects of factors on t
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Lou, Guan-Zhang, and 羅貫彰. "Reverse Mortgage Loan Pricing Model." Thesis, 2013. http://ndltd.ncl.edu.tw/handle/65779181451853475463.

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碩士<br>朝陽科技大學<br>財務金融系碩士班<br>101<br>"An aging population " this phenomenon is one of the world&apos;&apos;s developed countries generally faced . As Taiwan society is aging ,that is be attention by government and public . One of the problems is " shortage of labor", and it also makes "early retirement" phenomenon . This research is according by Tse (1995b) model, to do simulation tests by Taiwan area’s data, mainly divided into fixed-rate annuity and floating-rates annuity. Hope can through this test , contribute to the part in terms of pensions. The results showed that the age and house prices
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Kao, Kai-Yu, and 高凱育. "The Feasibility Analysis of Productizing Reverse Mortgage Loan." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/81612462047267295509.

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碩士<br>輔仁大學<br>金融與國際企業學系金融碩士班<br>99<br>Our society is facing the problem of “aging and birthrate’s declining”. With the rising price of the real estate, the phenomenon of “Asset Rich、Cash Poor” is gradually occurs in our society. In order to strengthen the economic security for the Elderly, our government has invited the scholars and professors of all fields to discuss it. They had set the goal to promote “Reverse Mortgage Loan” and had it planned and executed by the Ministry of the Interior. However, banks are not interested in this project due to the following reasons. Firstly, this project i
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Hwang, Jin Wen, and 黃晉文. "Investigating the determinants of reverse mortgage loan in Taiwan." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/z9ug8w.

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碩士<br>國立清華大學<br>高階經營管理碩士在職專班<br>105<br>We use an online survey to study how different factors, including demographic variables, and personal factors, influence the willingness of retirees and those approaching retirement adopting reverse mortgage (home equity conversion mortgage). 313 responses, ranging between 75.5 and 22.5 years old, were collected. The average age of the responded is 42.2. We performed a multiple regression analysis based on the responses collected. We found that 1) those who want to retire before the age of 55 have low interests in reverse mortgage; 2) the state employees
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PENG, PEI-WEN, and 彭佩玟. "A Study on the Reverse Mortgage Loan in Taiwan." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/545x6p.

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碩士<br>國立高雄第一科技大學<br>金融系碩士班<br>106<br>Sub-replacement fertility, an aging population, insufficient income source after retirement, and high home ownership rate in Taiwan facilitate the development of reverse mortgage. Commercial reverse mortgage as promoted by banks does not impose limitations on borrower income or real estate price, grants eligibility to non-primary residence, and will henceforth relieve the country’s low housing occupancy rate. This study, based on 15 reverse mortgage products issued by 12 banks in Taiwan, further categorizes Taiwan’s reverse mortgages into general-type, trus
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Books on the topic "Reverse Mortgage loans"

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United States. Federal Trade Commission, ed. Reverse mortgages. Federal Trade Commission, 1996.

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Redstone, Gerald H. Reverse mortgages. Nova Science Publishers, 2009.

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REVERSE MORTGAGES: ELEMENTS, CONSIDERATIONS AND MARKET DEVELOPMENTS. nova publishers, 2013.

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Chŏ chʻulsan, koryŏnghwa sahoe rŭl wihan yŏk mogijiron: Reverse morgage loan. Hanʼguk Haksul Chŏngbo, 2006.

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Scholen, Ken. Resource guide on reverse mortgages. National Eldercare Institute on Housing and Supportive Services, 1993.

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Association, Federal National Mortgage, ed. Reverse mortgage selling and servicing guide. FannieMae, 1996.

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E, Lucas John, ed. Reverse mortgages for dummies®. Thorndike Press, 2008.

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Lyons, Sarah Glendon. Reverse Mortgages For Dummies. John Wiley & Sons, Ltd., 2005.

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Lyons, Sarah Glendon. Reverse mortgages for dummies. Wiley, 2005.

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Kraemer, Tammy. The complete guide to reverse mortgages. Adams Media, 2007.

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Book chapters on the topic "Reverse Mortgage loans"

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Ratzenberger, James C. "Rationing Eligibility for Mortgage Bond Loans." In Mortgage Revenue Bonds. Springer Netherlands, 1992. http://dx.doi.org/10.1007/978-94-011-2974-9_2.

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Mayer, Christopher, and Stephanie Moulton. "The Market for Reverse Mortgages among Older Americans." In New Models for Managing Longevity Risk. Oxford University Press, 2022. http://dx.doi.org/10.1093/oso/9780192859808.003.0013.

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This chapter examines the usage of reverse mortgages among mortgage borrowers, as well as applicants rejected for new mortgage credit who are age 62+. We find that 17–27 percent of actual and rejected borrowers would have qualified for a Home Equity Conversion Mortgage (HECM) reverse mortgage, or nine to 14 times the size of the actual HECM market. The existence of a large number of seniors with an existing mortgage or taking out a new mortgage with quite high loan to value ratios (LTVs) (57–65%, depending on the product) suggests that many seniors do, in fact, utilize home equity in order to fund their retirement. Yet they choose products that require monthly payments lasting decades into retirement and rising as a share of (declining) income as they age. We consider a number of possible explanations for why seniors in the US do not spend home equity and instead rely on loans with high repayments, including precautionary savings for health shocks, bequest motives, high costs of reverse mortgages, and the lack of brand name institutions in the reverse mortgage business.
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Munnell, Alicia H., Wenliang Hou, and Abigail N. Walters. "Property Tax Deferral." In New Models for Managing Longevity Risk. Oxford University Press, 2022. http://dx.doi.org/10.1093/oso/9780192859808.003.0012.

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Many retirees will not have enough money from conventional retirement programs to maintain their standard of living once they stop working. To help support themselves, they will need to tap their home equity, the major asset for most middle-income older households. Yet tapping home equity is difficult: most people are reluctant to downsize and, even when they do, they rarely reduce their housing expenses. Reverse mortgages are an option, but most households are put off by the enormity of the decision, the complexity of the product, and the high up-front costs. A state-wide property tax deferral program overcomes the hurdles to accessing home equity. Property tax deferral does not provide access to as much home equity as a reverse mortgage, but the offsetting advantage is that some of the house value after the repayment of the loan and interest will be available for a bequest. At the household level, the proposed program is revenue neutral: all taxes owed by a participating household are paid back, with interest sufficient to cover borrowing costs and administrative expenses. But because loans are made well in advance of repayments, the sponsor of the plan must cover start-up costs. In Massachusetts, if the state government simply borrowed money to cover the annual outlays, the state’s ratio of debt to gross state product would rise from 14 percent to 15.1 percent. The alternative is to involve the private sector. This decision would raise the costs to homeowners, but it may nevertheless be necessary in order to get a broad-based program up and running.
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Baily, Martin Neil, and Benjamin H. Harris. "Reverse Mortgages." In The Retirement Challenge. Oxford University PressNew York, 2023. http://dx.doi.org/10.1093/oso/9780197639276.003.0010.

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Abstract Many families have savings in financial assets but considerable wealth as home equity. They can sell the house, but then the family must find another place to live. Naturally, some retirees want to remain in their own homes and “age in place.” Reverse mortgages were created to help older people remain in their homes, using their home equity for support. With a reverse mortgage, the homeowner takes out an interest-accruing loan against the value of the house but does not make interest payments until the homeowner dies or decides to leave their home. Reverse mortgages can be an appealing product to access home equity, although the market suffers from reputational challenges and widespread design flaws. This chapter explores the reverse mortgage market, its pros and cons, and how to make it more attractive to retirees while reducing the risks of loan default.
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Baily, Martin Neil, and Benjamin H. Harris. "Reforming Private Insurance Markets." In The Retirement Challenge. Oxford University PressNew York, 2023. http://dx.doi.org/10.1093/oso/9780197639276.003.0013.

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Abstract One retirement challenge is how retirees can spend down their assets (or “decumulate”) to manage the risks described in earlier chapters. The markets for insurance-like products—such as annuities, reverse mortgages, and long-term care insurance—currently do not work well. This chapter explores ways to increase the use of insurance products by bringing more providers into the system. Policymakers should offer incentives to encourage companies to include annuities and long-term care insurance in their standard portfolio of retirement products. Employers should set up information sessions so employees learn the value of insurance and make good decisions. The chapter suggests improving reverse mortgages by, for instance, allowing small-dollar loans with low fees and interest rates and permitting homeowners to convert traditional mortgages to reverse mortgages. Combined, these reforms would better enable savers to obtain insurance against various risks and raise their standard of living in retirement.
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"eventually agreed after the husband had applied pressure. A 20 year mortgage with the plaintiffs was arranged for a sum of £150,000, the stated purpose being to pay off the existing mortgage and to buy a holiday home. Documents relating to the mortgage were prepared, which the wife signed without reading them. At no stage was she advised of the content of the documents, nor was she advised to seek independent advice. Accordingly, she was not aware of the amount of the loan. Once the existing mortgage debt was settled, the husband used the remainder of the loan to speculate on the stock market and, in the 1987 stock market crash, he lost a substantial amount, with the result that he could no longer continue to repay mortgage instalments as they became due. The plaintiffs now sought an order for possession of the matrimonial home, which the wife contested on the ground that she had been induced to sign the relevant documents by misrepresentation, duress and undue influence. The trial judge held that there was actual undue influence, but this decision was reversed in the Court of Appeal on the ground that there was no manifest disadvantage to the wife in entering into the mortgage transaction. This decision, in turn, was reversed by the House of Lords on the ground that, in cases of ‘actual undue influence’, there is no requirement of manifest disadvantage, thereby finding in favour of the wife: CIBC Mortgages plc v Pitt [1994] 1 AC 200, p 207." In Sourcebook on Contract Law. Routledge-Cavendish, 1995. http://dx.doi.org/10.4324/9781843141518-169.

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Conference papers on the topic "Reverse Mortgage loans"

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Nakić, Jakob. "OBRNUTA HIPOTEKA /NOVUM ILI JOŠ JEDNA PREVARA?" In XV Majsko savetovanje: Sloboda pružanja usluga i pravna sigurnost. University of Kragujevac, Faculty of Law, 2019. http://dx.doi.org/10.46793/xvmajsko.259n.

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Even with the 1930-ies known in the Western world financial product called reverse mortgage. For seniors who do not have enough money for daily life, health and similar needs, but at the same time have valuable properties in which they live, and do not intend to sell them, meant the possibility of increasing their current income using the so-called. A reverse mortgage, which is in the world, as shown by an acceptable and increasingly popular solution. A reverse mortgage is a loan which the debtor are not effective, is not transmitted and on possible successors than this only of the mortgaged p
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Xiang, Wei-min, and Li-juan Peng. "The reverse mortgage loan pricing model based on the real estate value predication—Chongqing's quarterly data from 2004 to 2013." In 2014 International Conference on Management Science and Engineering (ICMSE). IEEE, 2014. http://dx.doi.org/10.1109/icmse.2014.6930459.

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Ofiarski, Zbigniew. "Principles of Taxation of Interest Income or Discount on Covered Bonds Issued in Poland." In The XX International Scientific Conference "Functioning of Investments Financed from State Resources and from Other Sources in The Countries of Central And Eastern Europe". Temida 2, 2022. http://dx.doi.org/10.15290/ipf.2022.15.

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The rules of taxation of revenues or income from covered bonds issued in Poland may become a significant barrier to the demand for this category of debt securities and, as a result, considerably limit the capabilities of mortgage banks to grant long-term loans for investment purposes. The present study has analysed and assessed the legislation in force in Poland regarding the scope and methods of taxation of interest and discount on covered bonds as a form of revenue or income earned by their holders. The aim of the study is to present various methods of taxation of these revenues or income, d
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