Wharton Pension Research Council Working Papers
 

Author(s)

Lori A. Trawinski

Document Type

Working Paper

Date of this Version

5-2-2019

Abstract

Economic conditions have improved since the U.S. mortgage market crisis, and home prices have recovered in many areas. Yet many more older families have taken on greater mortgage debt than in the past, and they are increasingly carrying mortgage loans into retirement. Foreclosure rates for all loans have decreased to pre-recession levels for borrowers under age 50, while for borrowers age 50+, foreclosure rates in 2017 were higher than in 2007. This means that many older homeowners may face the loss of their homes, even though the economy has improved.

Keywords

Older adults, mortgages, foreclosure rates, Great Recession

Working Paper Number

WP2019-12

Copyright/Permission Statement

All findings, interpretations, and conclusions of this paper represent the views of the author(s) and not those of the Wharton School or the Pension Research Council. © 2019 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.

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Economics Commons

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Date Posted: 25 September 2019