Suggesting a looming crisis in senior housing, an increasing number of baby boomers are entering into retirement with mortgage debt, according to a recently released report from the Harvard Joint Center for Housing Studies and the AARP Foundation.
Reverse mortgages may offer financial security for those who are eligible and in need. “Reverse mortgages can be particularly helpful to lower-income households holding most of their wealth in home equity,” the study says, noting that reverse mortgage income can support a variety of financial needs.
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