REVERSE MORTGAGES: Use Your Home to Stay at Home
Overview:
Many older adults wish to remain in their homes, but find it hard to cover the costs that can come with a chronic health condition. For some, using home equity to pay for help at home can be an important option. Reverse mortgages are loans that allow homeowners aged 62 and over to convert home equity into cash while living at home for as long as they want.
NCOA’s Use Your Home to Stay at Home™ initiative is a public-private partnership that encourages the appropriate use of home equity to help older people live at home. The session discusses this initiative and reviews cost-effective ways to use reverse mortgages to pay for long-term care.
Speaker:
Barbara R. Stucki, Ph.D., one of the nation’s leading researchers in the field of private sector financing for long-term care and project manager for NCOA's Use Your Home to Stay at Home™ initiative.
Materials:
Originally presented Feb. 23, 2006.
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