Reverse mortgage popularity is growing in Taiwan


By Chris Clow - Reverse Mortgage Daily

Applications and lending amounts for reverse mortgage programs are growing in Taiwan, signalling increasing demand and popularity for the country’s population of older homeowners.

“The number of applications to 13 local banks reached 3,186 as of the end of last month, a 38 percent increase from 2,309 a year earlier,” according to the Taipei Times, citing data released last year by the nation’s Financial Supervisory Commission (FSC). “The amount of lending also grew from NT$12.5 billion (US$404.69 million) a year earlier to NT$17.7 billion (US$574.8 million) as of the end of last month,” according to the data.

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