[Image source: Gettyimagesbank]South Korea has eased the eligibility criteria for the housing reverse mortgage program that allows homeowners to provide their homes as collateral and receive a monthly pension by setting the upper limit of the housing price at under 1.2 billion won ($931,497).According to financial industry sources on Wednesday, the Financial Services Commission (FSC) issued a legislative notice of partial amendments to the enforcement decree of the Korea Housing Finance Corporation Act, which stipulates that the standard price of houses eligible for reverse mortgage is under 1.

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