This May's JTYK Subscription Hits Monthly Record High
- Date 2016-06-17
- Views 566
- 1,302 new subscribers added this month, a three-fold increase from a year earlier
- The HF Reverse Mortgage Package helps people reduce debt and secure a stable flow of income during
retirement
□ HF sees the monthly JTYK subscription hit a record high this May.
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) announced on the 17th that this May 1,302
seniors newly subscribed to its JooTaekYeonKeum (JTYK) reverse mortgage loan. The figure is almost three
times the number of new JTYK subscriptions (487) last May. For the reverse mortgage loan launched in 2007,
it is the first time that the number of its monthly subscription has exceeded 1,000.
□ HF explains that the notable increase in monthly JTYK subscription is partly due to the launch of the HF
Reverse Mortgage Package. In fact, during the period from the launch of the package on April 25, 2016 to
the end of May, 2016, the number of those applying for pre-purchase counseling reached 8,216 (a daily
average of 328.6, a 5.2-fold increase year-on-year), while the number of those applying for JTYK subscription
reached 1,968 (a daily average of 78.7, a 2.6 times increase year-on-year).
※ These statistics do not include those who have subscribed to Bogeumjari Loans convertible to JTYK Loans,
which allows them to convert their Bogeumjari Loan to a JTYK loan when either they or their spouse turn 60
or older.
- The number of the above convertible Bogeumjari Loan subscribers at the end of this May: 2,624 (KRW 330.7
billion)
□ To break down this May's new JTYK subscribers, ▲ 127 (9.8%) of them purchased the ‘JTYK for mortgage
repayment,’ while ▲ 332 (25.5%) of the new subscribers purchased the 'JTYK with favorable monthly
payments', and ▲ 843 (64.7%) of them subscribed to a regular JTYK loan.
□ An HF official said, “With the launch of our Reverse Mortgage Package, the elderly and their children have
taken greater interest in our JTYK reverse mortgage loans. The recent increase in JTYK subscription means
more senior citizens are enjoying debt reduction, stable housing, and a steady flow of income.”
- The HF Reverse Mortgage Package helps people reduce debt and secure a stable flow of income during
retirement
□ HF sees the monthly JTYK subscription hit a record high this May.
□ Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) announced on the 17th that this May 1,302
seniors newly subscribed to its JooTaekYeonKeum (JTYK) reverse mortgage loan. The figure is almost three
times the number of new JTYK subscriptions (487) last May. For the reverse mortgage loan launched in 2007,
it is the first time that the number of its monthly subscription has exceeded 1,000.
□ HF explains that the notable increase in monthly JTYK subscription is partly due to the launch of the HF
Reverse Mortgage Package. In fact, during the period from the launch of the package on April 25, 2016 to
the end of May, 2016, the number of those applying for pre-purchase counseling reached 8,216 (a daily
average of 328.6, a 5.2-fold increase year-on-year), while the number of those applying for JTYK subscription
reached 1,968 (a daily average of 78.7, a 2.6 times increase year-on-year).
※ These statistics do not include those who have subscribed to Bogeumjari Loans convertible to JTYK Loans,
which allows them to convert their Bogeumjari Loan to a JTYK loan when either they or their spouse turn 60
or older.
- The number of the above convertible Bogeumjari Loan subscribers at the end of this May: 2,624 (KRW 330.7
billion)
□ To break down this May's new JTYK subscribers, ▲ 127 (9.8%) of them purchased the ‘JTYK for mortgage
repayment,’ while ▲ 332 (25.5%) of the new subscribers purchased the 'JTYK with favorable monthly
payments', and ▲ 843 (64.7%) of them subscribed to a regular JTYK loan.
□ An HF official said, “With the launch of our Reverse Mortgage Package, the elderly and their children have
taken greater interest in our JTYK reverse mortgage loans. The recent increase in JTYK subscription means
more senior citizens are enjoying debt reduction, stable housing, and a steady flow of income.”