Arlington, VA—The National Council on Aging (NCOA) has received a $100,000 contribution from the Wells Fargo Housing Foundation in support of homeownership education for senior citizens. The effort will help struggling older adults navigate their housing options via a new financial education module, Your Home as a Strategic Asset.
More than 25 million older Americans are economically insecure, often just one event—a job loss, major health expense, or accident—away from financial crisis. For those that own their homes, tapping their home equity may be an option to increase their economic security, but requires careful consideration and understanding of taxes, fees, and homeowner obligations.
As part of its Aging Mastery Program®, NCOA will develop and release a community-based financial education module, Your Home as a Strategic Asset, to help older adults weigh their options for utilizing their home equity. The Aging Mastery Program® draws on NCOA’s national network of senior centers and other community-based organizations to empower seniors to make modest but impactful changes in their health and financial behaviors. Over 1,110 seniors have already completed the 10-week program, which combines goal-setting, daily practices, and peer support.
“We’re thrilled to have the support of Wells Fargo to educate older homeowners about their choices for aging in place,” said Ramsey Alwin, vice president of economic security at NCOA. “The Aging Mastery Program® offers a way for older adults to develop sustainable behaviors and knowledge that can improve their health and financial stability, and brings NCOA one step closer to its goal of improving the lives of 10 million older adults by 2020.”
The National Council on Aging (NCOA) is a respected national leader and trusted partner to help people aged 60+ meet the challenges of aging. Our mission is to improve the lives of millions of older adults, especially those who are struggling. Through innovative community programs and services, online help, and advocacy, NCOA is partnering with nonprofit organizations, government, and business to improve the health and economic security of 10 million older adults by 2020. Learn more at ncoa.org and @NCOAging.
About Wells Fargo Housing Foundation
In 2014, the Wells Fargo Housing Foundation donated nearly $20 million in support of affordable housing initiatives serving low-and moderate-income households – including seniors, veterans, and families – through neighborhood stabilization and community revitalization efforts. Since its inception in 1993, the Wells Fargo Housing Foundation has invested more than $150 million to such efforts, along with mobilizing more than 4.6 million team member volunteer hours to build and rehabilitate more than 5,500 homes and counting.