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A Primer on Reverse Mortgages

Author

Listed:
  • Andrew D. Eschtruth
  • Long C. Tran

Abstract

Housing equity is the most important asset for the vast majority of Americans. In principle, this asset might be used to support consumption in retirement. Reverse mortgages were envisioned as a mechanism that would allow older people to consume their housing equity without selling their homes. Yet this market is extremely small — less than one percent of qualified homeowners have a reverse mortgage. This brief provides an overview of reverse mortgages and explores possible reasons for their currently limited appeal...

Suggested Citation

  • Andrew D. Eschtruth & Long C. Tran, 2001. "A Primer on Reverse Mortgages," Just the Facts jtf-3, Center for Retirement Research.
    • Handle: RePEc:crr:jusfac:jtf-3
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    File URL: http://crr.bc.edu/briefs/a-primer-on-reverse-mortgages/
    File Function: First version, 2001
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    Cited by:

    1. Alicia H. Munnell & Annika Sunden & Mauricio Soto & Catherine Taylor, 2002. "How Will The Rise In 401(K) Plans Affect Bequests?," Issues in Brief ib-10, Center for Retirement Research.
    2. Alessandro Piergallini, 2020. "Demographic change and real house prices: a general equilibrium perspective," Journal of Economics, Springer, vol. 130(1), pages 85-102, June.
    3. Sandrine Juin, 2016. "Care for dependent elderly people : dealing with health and financing issues," Erudite Ph.D Dissertations, Erudite, number ph16-02 edited by Thomas Barnay.

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