Reverse Mortgages and the Economic Status of Elderly Women | Zendy

Benjamin A. Morgan | Zendy; Isaac F. Megbolugbe | Zendy; David W. Rasmussen | Zendy

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Reverse Mortgages and the Economic Status of Elderly Women

Author(s) -

Benjamin A. Morgan,

Isaac F. Megbolugbe,

David W. Rasmussen

Publication year - 1996

Publication title -

the gerontologist

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.524

H-Index - 138

eISSN - 1758-5341

pISSN - 0016-9013

DOI - 10.1093/geront/36.3.400

Subject(s) - home equity , equity (law) , poverty , census , demographic economics , population , low income , business , economics , socioeconomics , economic growth , labour economics , environmental health , medicine , political science , law

Data from the 1990 Census of Population and Housing are used to estimate the potential demand for reverse mortgages among elderly women householders. A reverse mortgage product is simulated using parameters based on the Home Equity Conversion Mortgage insurance demonstration, and its effect on poverty and income distribution among this group is calculated. Approximately 1.8 million women with low incomes and home equity of $40,000 and above could see a significant increase in income under such a program.

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