Cities In The Elderly Selection Factors Reverse Mortgage Loans

Due to the transformation of social environment, concept and living conditions, Chinahas embraced the social pattern of aging and low fertility. It has become a thorny issue tohelp the elderly adapt to changes of the pension model as well as maintain self-security andlife quality. Furthermore,“9064” mode was put forward in Beijing, it meant that90%ofthe elderly would have their old-age life at home. Reverse mortgage is a viable optionwhich uses real estate as mortgage. This paper has focused on and analyzed influencefactors in applying for a reverse mortgage for elderly in city, which would serve asreferences for future promotion of endowment pattern.Firstly, this paper hackles the background and possibility of reverse mortgage, such aslack of retirement income, high homeownership rate. Then the paper tries to sort out thetheory and data of reverse mortgage while selects the United States as a typical country tostudy its reverse mortgage development and influence factors. Subsequently, the paperraises the core assumption that the attitude of elderly towards reverse mortgage loan isobviously different among them due to different basic endowment concept, endowmentability, living conditions, risk cognition and projects supporting cognition, which can alsopredict whether the elderly would choose reverse mortgage. According to the assumptions,this paper provides a questionnaire and makes some pre-research which has passed the testof reliability and validity with284samples in9communities of the Dongcheng District ofBeijing that were selected as formal research object. All data in this paper has been testedin cross tab, independent-samples T Test and equation regression to verify the significancelevel of influence factors and assumptions. In the end, the paper gives the conclusion andrecommendations.