Home Equity Conversion Instruments with Fixed Term to Maturity: Alternatives to End of Term Pay‐Off
研究了固定期限反向年金抵押贷款到期后借款人仍想居住的风险，提出共享增值和共享权益型贷款作为替代方案，以解决到期风险。
Standard reverse annuity mortgages obligate the lender to take on the risk that an elderly homeowner will desire to remain in a residence after the RAM has reached maturity. In this case, the best the lender can hope for is that the property will have appreciated sufficiently that the loan can be carried at interest only. There is a possibility for lender loss but not gain over contracted return. Alternatives to the standard RAM are explored in this paper with most attention devoted to shared appreciation and shared equity RAMs. These alternative instruments appear to solve the problem of maturity risk.