A Study on Determinants of Use and Satisfaction of Reverse Mortgage Considering Socioeconomic Characteristics of the Elderly | Zendy

Jae Song Lee | Zendy; Yeol Choi | Zendy

Open Access

A Study on Determinants of Use and Satisfaction of Reverse Mortgage Considering Socioeconomic Characteristics of the Elderly

Author(s) -

Jae Song Lee,

Yeol Choi

Publication year - 2017

Publication title -

journal of the korean society of civil engineers

Language(s) - English

Resource type - Journals

eISSN - 2287-934X

pISSN - 1015-6348

DOI - 10.12652/ksce.2017.37.2.0437

Subject(s) - logit , logistic regression , binary logit model , socioeconomic status , ordered logit , mixed logit , empirical research , econometrics , economics , actuarial science , business , demographic economics , statistics , mathematics , demography , sociology , population

The purpose of this study is to analyze the factors affecting the reverse mortgage utilization and satisfaction of the elderly. Based on the survey data of the reverse mortgage demand in 2016, we carried out empirical analysis using the binary logit model and the ordered logit model. First of all, as a result of the empirical analysis using the binary logit model, the determinants of using the reverse mortgage were age, region, assets, household member, children with financial help, and education level. As a result of the empirical analysis using the ordered logit model, the determinants of the satisfaction level of the reverse mortgage were estimated to be age, gender, and region. Based on the results of the empirical analysis, it is necessary to find a way to increase the participation rate of the reverse mortgage and to improve the satisfaction of the user.

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