Mortgages and Older Americans

A recent CNBC article says according to a 2013 survey of consumer finances by the Federal Reserve, approximately 42% of households with someone age 65 to 74 have a home secured by debt. This number has grown from only 18.5% in 1992 and 32% in 2004. It is expected that this figure will continue to rise because an estimated 10,000 people per day turn 65 as part of the baby boom population.Read the full article