An Insurance Approach to Risk Analysis of Debt Home Equity Conversion Programs

Wayne R. Archer and David J. Nye

Real Estate Economics, 1987, vol. 15, issue 3, 185-198

Abstract: The use of home equity conversion debt creates a compounding obligation against the home that makes collateral deficiency a potentially dominant risk. Using an insurance methodology, an examination of this risk and its impact upon the potential for home equity conversion is conducted. The paper includes a consideration of how deficiency risk and maximum potential benefits are affected by the interaction of household characteristics with demographic and economic factors.

Date: 1987
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