Full Citation

Title: Home Equity Extraction -- A Long-Term-Care Financing Solution for Older Adults?

Citation Type: Journal Article

Publication Year: 2019

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Abstract: Many Americans approach retirement in poor financial condition: the median American older than age 50 has few financial assets and a mortgage balance. But typically they have home equity. Monetizing this equity is important for achieving a decent living standard in old age. This article discusses the benefits of two instruments older adults could use to convert home equity into cash: the home equity line of credit, and the reverse mortgage, often known as the home equity conversion mortgage. It discusses the challenges involved in making these products sustainable.

Url: https://www.ingentaconnect.com/contentone/asag/gen/2019/00000043/00000001/art00019

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Authors: Green, Richard K

Periodical (Full): Generations

Issue: 1

Volume: 43

Pages: 96-98

Data Collections: IPUMS USA

Topics: Aging and Retirement

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