Legislation is being rushed in NZ to place limits on reverse mortgages. They include a no negative equity clause, meaning that the borrower cannot be left with a debt when all their equity in their home is used up. The borrower will also be guaranteed lifetime occupancy of their home they cannot be evicted. And they will also be able to transfer their reverse mortgage loan to a retirement village.
New Zealands tough legislation on reverse mortgages plus transferability to retirement villages
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