ABSTRACT
Title The Management of Elders with Reverse Mortgage Solution: A
Case Study of Government Saving Bank
Field Social-Psychology
Name Mr.Isara Wongrung Course NDC Class 60
A reverse mortgage allows homeowners to convert their residence into
cash. Instead of making monthly mortgage payments, they will gradually receive the
loan amount in instalments over a long period of time until they die or until the
approved loan amount is fully exhausted. รf they die, their heirs will have the option
of paying back the loan including interest to reclaim the home or of simply stepping
aside for the GSB to go ahead with foreclosure. Such banking services promise
elderly homeowners not just cash for their daily expenses but also a roof over their
head. The reverse-mortgage option will complement GSB’s other elderly-friendly
banking services, such as special interest rates.
The Government Savings Bank (GSB) is set to offer its first batch of
reverse mortgages - home equity conversion housing loans for the elderly - worth up
to 5 billion baht early 2018.Reverse mortgage is a part of the government's plan to
strengthen the retirement safety net as Thailand becomes an ageing society. The
Fiscal Policy Office estimates that the percentage of Thais aged 60 and over is
expected to increase from 14% of the population now to 17.5% in 2020, 21.2% in
2025 and 25.2% in 2030.
