Should government provide reverse mortgage to the elderly ones?

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The Taiwan government has announced that it will provide reverse mortgage arrangement to a certain group of elderly ones. That means the government will buy the house from the owner, and instead of taking over the house now, it allows the owner to stay until death. In the meanwhile, the government will give them a monthly payment to cope with the expenses. After the death of the owner, the government will take over the ownership of the house. This reverse mortgage scheme is opened to those elderly ones without a living kin. In most countries, the banks provide the reverse mortgage. The reverse mortgage scheme is not just for those old people without relatives. When the owners die, the bank will sell the house, deduct the amount paid out over the years, and give the balance to the relatives.