Reverse Mortgages A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer …
Did You Know?
- The Census Bureau estimates that more than 2.3 million Texans were aged 65 or older in 2006, accounting for 9.9 percent of the state's population. That share is expected to rise to 11.7 percent of the total by 2015.
- Texans 60-plus are projected to total 8.1 million by 2040, a 193 percent increase from 2000. By 2040, the 60-plus population is projected to comprise 23 percent of the total Texas population.
- The Texas Baby Boomers population (those age 55-64) totals over 5.6 million, or about 28 percent of the total Texas population.
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