CHINA: Many Elderly Don't Support Reverse Mortgage Scheme

ZHEJIANG, Eastern China (May 29, 2006): The Chinese language Zhejiang Daily has conducted an online survey about reverse mortgages. The results show that 60% of the 669 people interviewed approved of the concept. The elderly tend to have more traditional values, however, including leaving their assets to their offspring, thus do not support reverse mortgages. This is reported by the New York-based Global Action on Ageing.