Journal of
Italian
Banking
Association

year 100
 

Archive » September 2014 » Reverse mortgage, an instrument to help retirees

Reverse mortgage, an instrument to help retirees

Claudio Pacella, Angelo Peppetti
September 2014
Jel codes: G21, G28

A reverse mortgage is a loan available to homeowners older than 65 years, that enables them to convert part of the equity in their home into cash, retaining the ownership of the home. It is conceived as a means to help retirees with limited income. In Italy, the Italian Banking Association and Consumers Associations have recently signed an agreement to define some general principles regarding the product’s offering

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