Items Tagged with 'Senior homeowners'

ARTICLES

  • Here are the cities with the oldest homeowners

    Florida dominates with Pennsylvania close behind
    The average age of a homeowner living in the largest metropolitan areas in the U.S. is 54. According to a new study by LendingTree that used Census Bureau data to rank cities by average homeowner age, Florida has the oldest homeowners while Utah has the youngest.
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  • Baby Boomers won’t downsize homes anytime soon

    Instead, they're working longer and the kids are living with them
    Baby Boomers are staying put and their kids are sticking with them, according to a new study by Trulia that examined the housing situations of homeowners 65 and older. The study revealed that seniors appear to be holding off on downsizing just the same as they were 10 years prior, and that contrary to some opinions, the lack of downsizing is not eroding affordability.
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  • CFPB warns about dangers of taking out a reverse mortgage to delay Social Security

    Says claiming Social Security benefits later may not be worth it
    The Consumer Financial Protection Bureau issued a warning to seniors this week, cautioning them that taking out a reverse mortgage in order to delay claiming Social Security benefits could be a financially harmful decision. In its report, the CFPB said it investigated this practice and found that the costs and risks of obtaining a reverse mortgage could exceed the increased amount of a senior’s lifetime Social Security benefits should the person wait to claim their benefits.
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  • Senior home equity hits all-time high in Q1

    Equity jumps $6.3 trillion
    Senior home equity increased in the first quarter of 2017 to $6.3 trillion, an all new high since the National Reverse Mortgage Lenders Association began tracking the figure in 2000. Experts pointed out this will benefit seniors who want to modify their homes after becoming empty nesters.
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