The The reverse mortgage - an opportunity to supplement pension benefits in Poland?
Abstrakt
The article presents an outline of the principles for granting reverse mortgage loans by banks and other credit institutions, as well as mechanisms intended to protect consumers who may potentially take advantage of this service. Its objective is not to offer a detailed analysis and assessment of the solutions adopted in the new Reverse Mortgage Act, but rather to present this new financial service as an opportunity for seniors who have amassed a sufficient asset base during their working life to improve their financial situation and complement their pension income. The article signals some potential dangers which can accompany this instrument, as well as other similar products offered by some financial institutions, such as lifetime annuities, which can in practice distort and subvert the purposes for which the Reverse Mortgage Act was adopted
Klíčová slova:
reverse mortgage, retirement pension, consumer, financial services, lifetime annuityReference
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