As baby boomers now approach retirement, many are facing a harsh reality: the Grim Reaper could come calling before they ever pay off their mortgage, reports Newsweek.
Since 1989, the percentage of Americans ages 55 to 64 who still have a mortgage has risen from 49 to 63 percent, according to Harvard’s Joint Center for Housing Studies. During that same period, the median balance owed by this group has nearly tripled, to $85,000.
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Category: Boomer Lifestyle