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Int. J. Financial Stud. 2016, 4(1), 5; doi:10.3390/ijfs4010005

Reverse Mortgage Participation in the United States: Evidence from a National Study

Department of Financial Planning, Housing & Consumer Economics, University of Georgia, Athens, GA 30602, USA
Academic Editor: Nicholas Apergis
Received: 31 December 2015 / Revised: 2 March 2016 / Accepted: 7 March 2016 / Published: 17 March 2016
View Full-Text   |   Download PDF [187 KB, uploaded 17 March 2016]

Abstract

This paper uses the most recent wave of a nationally representative dataset to examine the factors associated with elderly homeowners’ decision to obtain reverse mortgage loans. The findings of this study suggest that very few homeowners participated in the reverse mortgage market, and homeowners younger than 67 were less likely to have reverse mortgage loans. However, homeowners who were risk averse, and homeowners in the two highest quartiles of net worth were more likely to have reverse mortgage loans. Further analyses reveal that among the reverse mortgage participants, homeowners with long-term care insurance coverage were less likely to have reverse mortgage loans. Implications for financial economists, financial planners, policy-makers, and scholars of retirement economics are included. View Full-Text
Keywords: reverse mortgage; household wealth; financial decisions; retirement planning reverse mortgage; household wealth; financial decisions; retirement planning
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Chatterjee, S. Reverse Mortgage Participation in the United States: Evidence from a National Study. Int. J. Financial Stud. 2016, 4, 5.

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Int. J. Financial Stud. EISSN 2227-7072 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
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