Event Host: Emeritus Academy
Short Description: There are a large number of seniors with substantial home equity, but relatively little income.
There are a large number of seniors with substantial home equity, but relatively little income. They could tap their home equity by moving to a rental unit or less expensive dwelling, but many wish to remain in their current home. For some seniors, traditional access to the credit market through refinancing or a home equity loan is unavailable due to lenders’ credit constraints. Financial planners are increasingly suggesting retirement planning strategies where reverse mortgages have a role. This talk summarizes four years of research on the U.S. Home Equity Conversion Mortgage. Topics covered include a description of reverse mortgages, who obtains them and the reasons for this decision, and the longer-term outcomes of obtaining a reverse mortgage.
Join the Emeritus Academy for an open lecture by Donald Haurin, professor emeritus of the Department of Economics.
A business reception will accompany the lecture. For more information, visit the Emeritus Academy and register.