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Senior Home Equity Holds Above $3 Trillion

Jul 12, 2011By

The amount of equity held in the homes of seniors held above $3 trillion in the first quarter of 2011 according to latest NRMLA/RISK SPAN Reverse Mortgage Market Index (RMMI). The RMMI fell by 3% to $3.2 trillion in the first quarter fueled by weakening in the housing market.  However, losses were mitigated by mortgage debt levels falling for the seventh consecutive quarter to the lowest levels since quarter 2 of 2007. “This index shows that seniors continue to have significant equity in their homes, despite modest declines in home prices,” said Peter Bell, President of the National Reverse