The CFPB Reports Mortgage Debt Key Factor in Increasing Levels of Debt Among Older Americans

The Consumer Financial Protection Bureau has been tracking the increasing levels of debt among older Americans. They found that older homeowners are now carrying more mortgage debt than ever before. For many of the roughly 4.4 million retired homeowners with mortgages, making monthly mortgage payments on a fixed income on top of other monthly expenses is a hardship. They also found...

 

America Saves believes that, with the proper preparation, homeownership can still help individuals build wealth. We have a number of resources to help you save successfully for a home:

If you do find that you have too much debt and are having trouble paying bills visit our Debt section to learn how to get out of debt and where to get help.

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