2016 Volume 57 Issue 2 Pages 119-131
Reverse mortgage programs were implemented as part of the Living and Welfare Fund Loan Program in 2002. However, actual practices of operation of the loan program are still unclear. This paper identifies actual conditions in the implementation of the reverse mortgage programs and problems in the system. Questionnaires were posted to all 47 prefectural councils of social welfare in Japan. There were 33 respondents. The survey results are as follows: (1) the concern was present wherein the reverse mortgage becomes uncollected debt for households requiring public assistance; (2) the concern was present wherein the reverse mortgage system depends on voluntary cooperation of the heir-at-law to avoid public auction in debt collection; (3) the concern was present wherein the well-being and housing for the bereaved family living with the debtor are possibly negatively affected; and (4) the partnership between prefectural councils of social welfare and welfare offices was insufficient.
