The Perfection Of China's Housing Reverse Mortgage System

Housing reverse mortgage is a new type of financial financing tool.Specifically it refers to that some of the elderly who meet the conditions take their own housing as collateral to borrow money from financial institutions,but the borrower still retains the right to live in the house.When the borrower died,The agency will obtain housing ownership,sell it or rent it out.The proceeds used to repay the loan principal and interest.As the loan principal and interest flow in the opposite direction of the traditional housing mortgage loans,as if the financial institutions are buying a house from the hands of the elderly,so it is called reverse mortgage.China's aging population is becoming increasingly serious,the way of pension reform is imminent.Over the past few decades,the implementation of our family planning policy,the average life expectancy,the decline in the birth rate,all accelerate the development of population aging.How to carry out financial innovation to deal with the severe trend of aging,to make up for the pension gap is placed in China is currently unavoidable problem.And housing reverse mortgage is a kind of great prospect.China's current situation in the theoretical research,or regional economic conditions,as well as the relevant government policy guidance,the implementation of housing reverse mortgage conditions are not mature enough,which makes the system in China's actual development process obstacles,the effect of Unsatisfactory Based on this background,this article decided to introduce and analyze the reverse mortgage from four aspects,focusing on the obstacles from the legal point of view of the actual operation,analyze the reasons and put forward the countermeasures.First of all,it introduces the basic concept of reverse mortgage in housing,summarizes its characteristics and constituent elements,and distinguishes it from the traditional mortgages and the maximum amount of mortgage stipulated in our law.After the reader's understanding of the concept and operating principle of the reverse mortgage of the housing,the author also introduces the historical evolution of therelevant policies of the government on the system and the development of the major pilot cities in the past few years.Then this article introduced the implementation of the difficulties.The angle is mainly from the incompatible part of the previous legal system.Such as China's current residential land for 70 years of the right to use,if taking into account the right to use after the renewal of the problem,will have a great impact on the valuation of housing value;another example is the reverse mortgage on the surface there is a"liquid mortgage" suspects,the elderly themselves are vulnerable groups,then how should protect the interests of the mortgagor is Unavoidable topic;rural pension problem is particularly serious,but because of the right to use the right to use the homestead can not implement this section of pension products and so on.A total of five questions were introduced.And then the focus of this article is trying to put forward some feasible recommendations for the above five questions from a legal point of view.In the case of the legal arrangement for the renewal of the land use right,this article considers that the "appropriate payment" should be taken "completely" and "free" and not in the current practice(such as Wenzhou),and the reasons are stated;Trying to implement the housing pension agreement to replace the financial loans in rural areas,as well as the establishment of the right to residence and so on.All these questions have been answered in my power."Housing Endowment","Reverse Mortgage" are very hot topics of the current society,but also controversial relatively large,and very valuable problems worthy of discussion.This paper put forward some superficial proposals from the legal point of view.I hope i can contribute some modest to the solution of the problems and the laws and regulations of China's advancing with the times.