According to research, approximately 8% of individuals age 62 and above have thought about the possibility of a reverse mortgage while only 2% secured the loan. The survey suggests that many homeowners have had trouble dealing with long-term debt after the housing market crash, and reverse mortgages may be of great assistance to many people. An increase in the number of people with mortgage debt has grown over the last decade. Many experts are suggesting that seniors seek financial help in order to decrease debt among the age group. More here
