The reverse mortgage: The axiological destruction by the financial regulatory markets

Abstract

The well-known reverse mortgage constitutes today one of the greatest innovations in terms of financial instruments, but it is also located at a doctrinal crossroads since it can be pointed out as the epitome of the economic analysis of law as a current of thought, since it is not about a completely new institution, instead, a rethinking of it, replacing the cognitive reasoning of the rules with the efficiency of them. But the above has been present (mostly) in regulated markets that are under the authority of the public power and its administrative and legal reserve as appropriate. It will be the responsibility of the State to set the limits and scope of this new type of institutions and to exploit a world of innovation through the revival of old institutions.