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Study on reverse mortgage user’s mid-term termination inclination
Journal of the Korean Data & Information Science Society 2022;33:589-99
Published online July 31, 2022;
© 2022 Korean Data and Information Science Society.

Heuiju Chun1

1Department of Statistics & Information, Dongduk Women’s University
Correspondence to: This research was supported by Dongduk Women’s University (No: 2021-05669).
1 Associate professor, Department of Statistics & Information Science, Dongduk Women’s University, Seoul 02748, Korea. E-mail:
Received June 21, 2022; Accepted July 19, 2022.
This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License ( which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
Based on the data of the ‘2020 Reverse Mortgage Demand Status Survey’, which includes the mid-term termination intentions of reverse mortgage users conducted by the Housing Finance Corporation in 2020, this study examined factors affecting the mid-term termination intentions of reverse mortgage subscribers using proportional odds logit model. As a result, satisfaction with reverse mortgage was the most essential factor affecting the intention to terminate in the middle reverse mortgage, and the second important factor was the monthly income of reverse mortgage subscribers. The third important factor is the age of the current reverse mortgage subscriber, followed by the appropriate assets required for retirement, the most hesitant to join the reverse mortgage, the current householder’s retirement status, and the period until the reverse mortgage subscription. Satisfaction with reverse mortgage is the biggest factor in midterm termination of reverse mortgage users. As the proportion of users who want to continue to use the reverse mortgage without repayment in advance is 80.8%, it seems that current reverse mortgage users have a positive reaction to the reverse mortgage, which indicates that the reverse mortgage plays a sufficient role in the economic stability of the elderly in their old age. The next important factor is monthly income. The lower the monthly income, the lower the tendency of reverse mortgage mid-term termination, and the higher the monthly income, the higher the reverse mortgage mid-term termination tendency. It is presumed to be doing well.
Keywords : Mid-term termination inclination, proportional odds logit model, reverse mortgage, reverse mortgage satisfaction.