USA Today Offers Solutions for Boomers With Debt

The USA Today article titled, "How Boomers Loaded With Debt Can Dig Out", starts out with sharing stats from a new Pew Charitable Trusts report that eight in ten Baby Boomers - those born from 1946 to 1964 - hold some form of debt, and nearly half (47%) still have a mortgage, which, on average, totaled $90,000.  This amount is very concerning because "most older Americans are not eliminating debt before retirement, and they may be at greater risk of financial insecurity in their golden years", according to the Pew report.  The report states that besides mortgages, seniors have outstanding credit card debt, car loans and education loans.  The article offers the following solutions to minimize debt:  track your income and expenses, consider counseling, and increase your income.  One of those specific solutions is a reverse mortgage to help pay off your mortgage.  Read the entire article here.

For more information on reverse mortgages and other related topics contact:

Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
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Toll Free (877) 500-0454
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