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Senior Home Equity Exceeds Record $10.6 Trillion
Senior Home Equity Exceeds Record $10.6 Trillion
May 10, 2022
Senior Home Equity Exceeds Record $10.6 Trillion
Housing wealth continued to grow by 3.98 percent ($405 billion) in the fourth quarter, reaching $10.6 trillion from Q3 2021. According to the recent quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index, the increase in older homeowners’ wealth was mainly driven by an estimated 3.7 percent ($452 billion) increase in home values.
NRMLA President Steve Irwin, said: “May is Older Americans Month, and this year’s theme is Age My Way.” According to Irwin, a comprehensive retirement plan considers housing wealth as its greatest asset, and under the right circumstances tapping into that equity will enable a secure path to aging security.
Senior borrowers can age “their way” by developing and exploring the right avenues toward retirement.
To find out more about reverse mortgage, visit our
website
, or reach out to us at
Reverse@plazahomemortgage.com
. Adding this strategy could help your borrowers reach their retirement goals.
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Reverse Market News
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