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Reverse Mortgage Facts

reverse-mortgagesNoteworthy reverse mortgage stats from the Globe’s Rob Carrick:

  • 36% — Average amount of home equity borrowed with a reverse mortgage
  • 50% — Average equity remaining when a reverse mortgage holder sells his/her home
  • 72 — Average age of a reverse mortgage customer
  • 55 — Minimum age to get a reverse mortgage
  • 12 — Average number of years people remain in their homes after getting a reverse mortgage