Comparison Research Of Housing On The Reverse Mortgage System

Now China has fully entered the aging society, but the social security system has not been completely established, the social security gap is more and more big, how to make "old before getting rich" old people to old age, a test of the government’s wisdom. After ten years of rapid development of real estate industry in China, the emergence of a large number of "house rich, cash poor" that have the property, but not enough cash to arrange good old life for themselves, how to make the "holding the property, Cary no money" the elderly can live a decent life, reverse mortgage is an effective way of old-age security.Reverse mortgage is from "Reverse Mortgage" English translation of the "Reverse Mortgage", also be translated as "reverse mortgage", but because of the "mortgage" is adopted by the common law system countries, with our legal system in the "mortgage" is different from the current legal system, at the same time, I country there is no "mortgage", so it was translated as "reverse mortgage loan". It mainly refers to the eligible elderly people with its ownership housing as collateral to apply for loans from lending institutions, loans to the lender in accordance with the contract, the borrower’s loans to the housing ownership transfer. The reason why it is called reverse mortgage, is because it has many differences from mortgage lenders, such as mortgages is a one-time loan to the borrower, while the reverse mortgage lender in general is the payment to the borrower in the loan; mortgage borrower is staging to lenders to repay the loan, the borrower reverse mortgage is a one-time to borrowers owing on the loan.This paper from the reverse mortgage reincarnation and summarize the major countries in the world on the system carried out the experience and lessons, systematically analyzed from the legal level of the implementation of the system for supporting, so that we can take the essence, discard the dross, for the implementation of a China characteristics of housing reverse mortgage loan system for the legal system, supporting the construction of the system, so that the system can orderly operation within the framework of the law. The main content of this paper is divided into four parts.The first part, by analyzing the status of the reverse mortgage system in our country, so as to find out the risks faced in the implementation of the reverse mortgage system in our country and our current laws and regulations conflict, put forward the main content of this paper is divided into four parts.The second part analyzes the legal relationship, the concept of housing reverse mortgage system differences of legal characteristics, historical evolution, and the related concept and the system involved, a comprehensive system of reverse mortgage system of understanding.The third part, through a series of tables and contrast, the reverse mortgage operation in major countries and regions of the State shall be horizontal and vertical comparison, find out the main implementation of the system of national and regional experiences and lessons, in which the main analysis, detailed system on the development process of the system in America, aims to design, USA on reverse mortgage products and related laws and regulations and other relevant aspects of running the system America, summarize experience and lessons, while the reverse mortgage system in Japan, Singapore, Hongkong and other countries and regions Chinese were analyzed, compared to sum up the experience and lessons, find our place of study.The fourth part, the concept of China’s legal regulation of the reverse mortgage, this part also is the key point of this thesis, firstly, to carry out reverse mortgage system in our country is facing the risk mentioned in the first part, in this part of measures to guard against the risk, secondly, according to the legal basis, constructing the reverse mortgage system in China the existing legal system again, put forward our legal regulation of the reverse mortgage system in our design, this is the focus of this section, carries on the design to the law regulation through four aspects of reverse mortgage contract, supervision, securities and other supporting etc.The main points of this paper is in the implementation of reverse mortgage loans, must be perfect law, construct legal system the system operation.