The National Potential of Home Equity Conversion

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Abstract
Home equity is the most underutilized asset owned by a majority of the elderly. Examined were the potential effects of converting home equity into spendable income using “reverse mortgages.” The analysis revealed that reverse mortgage loans could have a substantial impact on the budgets of many elderly homeowners, with impressive percentage increases in income and decreases in poverty rates. Home equity conversion could also contribute to older owners' capacity to keep up with housing expenses or finance long-term care.

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