Mortgage debt — the new retirement time bomb, How connected has it been aback you’ve credible one of those mortgage-burning pictures? It was already a big deal, abnormally with the Greatest Generation.
There was no joy like that abide mortgage payment, and our parents prided themselves on afire that
paper, hopefully afore they retired.
These days, baby boomers added are acclimatized that debt into retirement.
And while there are assets to that (the assimilation bulk acknowledgment for some), abounding cyberbanking planners now advise their admirers to pay off the mortgage. But they are abounding added afraid with credit-card, auto-loan and student-loan debt.
The Consumer Cyberbanking Protection Bureau says the allocation of homeowners ages 65 and beforehand with mortgage debt added from 22 percent in 2001 to 30 percent in 2011. Among homeowners 75 and older, the bulk added than doubled, from 8.4 to 21.2 percent.
And the boilerplate mortgage debt for seniors added by 82 percent, from about $43,400 to $79,000.
There was no joy like that abide mortgage payment, and our parents prided themselves on afire that
These days, baby boomers added are acclimatized that debt into retirement.
And while there are assets to that (the assimilation bulk acknowledgment for some), abounding cyberbanking planners now advise their admirers to pay off the mortgage. But they are abounding added afraid with credit-card, auto-loan and student-loan debt.
The Consumer Cyberbanking Protection Bureau says the allocation of homeowners ages 65 and beforehand with mortgage debt added from 22 percent in 2001 to 30 percent in 2011. Among homeowners 75 and older, the bulk added than doubled, from 8.4 to 21.2 percent.
And the boilerplate mortgage debt for seniors added by 82 percent, from about $43,400 to $79,000.
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