Tag: foreclosure
In the second half of 2020, the number of retired homeowners who fell behind on their mortgage payments doubled to about 1 million per month. By July of this year, it had dropped to 680,000 retirees. The federal Consumer Financial Protection Bureau (CFPB), which issued the report on homeowners over age 65, said about 12…
The housing market collapse more than a decade ago inflicted a lot of financial damage on baby boomers nearing retirement. But a new study finds that some have been trying to make up for lost time by rapidly reducing their mortgage debt. Since the Great Recession, the boomers who were born in the 1950s –…