Use Your Home To Stay At Home
The National Council on Aging has recently promoted a solution to the long-term care problem for seniors: reverse mortgages. As part of its "Use Your Home to Stay at Home" program, the NCOA suggests that the 80% of home-owning seniors over age 62 think about mortgaging their homes through a reverse mortgage, which will provide them with cash in exchange for home equity. In this way, a reverse mortgage can assure home ownership while offering seniors a way to remain at home in their old age.
