The Mortgage Hurdle To Retirement

More and more homeowners are carrying a mortgage debt, which is affecting retirement and spending for baby boomers.  As of 2011, nearly one-third of homeowners over the age of 65 had a mortgage compared to 22% in 2001 according to the Consumer Protection Bureau.  The LA Times recently published an article titled, "Many Seniors Trying to Retire With a Mortgage", and it gives real life scenarios of two separate baby boomers who used a reverse mortgage to help finance their retirement.  Read the entire article here.