REVERSE MORTGAGE MAILING LISTS
Today’s economic environment puts pressure on older homeowners to find new sources of retirement income and stretch their savings. Growing numbers of older adult are starting to tap their housing wealth, using home-equity loans or reverse mortgages. Dataman Group can provide marketers with the right list to reach this important market group!
A study by MetLife Mature Market Institute finds that 35% of older Americans see their homes not just as secure places to live, but also as collateral for a loan. About 14% are taking cash out of their house through a home equity loan or reverse mortgage. This is a growing reality for affluent households who seek to enhance their lifestyle. For other families, a reverse mortgage may be their only choice.
Study findings indicate that older homeowners are using home equity to increase income security, enhance financial resilience to deal with unexpected expenses, and to improve debt management, among other things.
Tapping home equity in a timely and appropriate way can keep small budget shortfalls from becoming overwhelming problems, said Barbara R.Stucki, Ph.D., director of the Reverse Mortgage Initiative for NCOA. (see national counts below)