由美國經驗分析我國逆向抵押貸款制度之法律問題

S Legal Analysis Regarding Taiwan's Reverse Mortgage Program -A Comparison with the U.S. Experience

所謂「逆向抵押貸款」，係指年長的借用人將所有之不動產設定扺押權于金融機構或政府，並將還款日定於借用人死亡、永久遷離，或移轉自用住宅的一種融資模式。我國現已著手試辦逆向抵押貸款業務，然仍屬萌芽階段。本文係以國際上卓越案例，即美國的「房屋淨值轉換抵押貸款制 度」（ HECM）為藍本，分析我國逆向抵押貸款之法律問題，並試圖對政 策提出建議。我國若能借鏡美國經驗，學習美國對制度設計的謹慎與周延態度，透過法律規範及相應配套措施之建立，令以房養老政策得在明確且安定的法律環境中穩定發展，不僅能釐清借貸雙方之權義關係，同時也能確立專責的監督輔導機關；最重要的是，政府所扮演之安全網角色，將因法律的強制力而更形凸顯，使借貸雙方均能在無後顧之憂的情況下安心地 進行交易，更可能因此發展出其他兼具創意及符合市場需求的類似金融商品，促以房養老模式益加多元而臻於完備。筆者期待不動產逆向抵押貸款制度之建立，成為我國重新檢討個人養老制度的發韌，冀望藉由政府、民 間團體、金融機構，及學者專家的通力合作，通盤考量國家的社經現況， 積極構築我國以房養老體制，為老年經濟安全提供另一層的保障。

The so-called reverse mortgage loan refers to a unique type of loan for old aged homeowners that lets them convert a portion of the equity in their home into cash. Unlike a traditional home equity loan, the reverse mortgage borrowers need not to repay the loan until them either no longer live in the home as your principal residence or you fail to meet the obligations of the mortgage. Taiwan is now launching its own reverse mortgage program, but it is still in the pilot phase. Many legal questions related to the program need to be clarified, and the role played by the government is also vague. The paper suggests that Taiwan's policy makers may take the U.S. program on reverse mortgage, the HECM, as a successful model and try to build up our program more comprehensive. This paper lays focus upon legal analysis regarding Taiwan's reverse mortgage program, and the author is eager to make feasible suggestions hoping to improve the regulations and the structure of the program. The goal of this paper is set to sustain old-age economic security for the country’s growing elderly population.