Reverse Mortgages for Baby Boomers

26 04 2005

Forty-one percent of home sellers last year were aged 55 and older, according
to a report by the Senior Advantage Real Estate Council. The report also says
that the population of baby boomers and seniors will soar 87 percent by 2020.

The number of homeowners aged 62 and older who take advantage of reverse
mortgages is on the rise. HUD reports that more 40,000 seniors obtained
reverse mortgages last year, and Florida ranked second in the nation as the source
for most of those loans.


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