Reverse mortgage participation in the United States: Evidence from a national study

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: International Journal of Financial Studies ; ISSN: 2227-7072 ; Volume: 4 ; Year: 2016 ; Issue: 1 ; Pages: 1-10 ; Basel: MDPI

Classification and Topics

• Classification: Wirtschaft ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Macroeconomics: Consumption; Saving; Wealth ; Banks; Depository Institutions; Micro Finance Institutions; Mortgages ; Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
• Subject: reverse mortgage ; household wealth ; financial decisions ; retirement planning

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Chatterjee, Swarn
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2016

Further information

• DOI: doi:10.3390/ijfs4010005
• Handle: http://hdl.handle.net/10419/167801
• Last update: 10.03.2025, 11:43 AM CET