Fewer of us are shedding mortgages in retirement
Thursday, August 28, 2014 3:00 PM
A growing number of homeowners are reaching retirement age still owing money on their houses, Bloomberg reported. The share of Americans 65 and older with mortgage debt rose to 30 percent in 2011 from 22 percent in 2001, according to a May analysis by the Consumer Financial Protection Bureau based on the latest available figures. Loan balances also increased, with the median amount owed climbing to $79,000 from $43,400 after adjusting for inflation, the data showed.