Retiring Baby Boomers are enjoying a big boost in home equity. That could help pay for their retirement, but a new survey shows there's a surprising lack of understanding about home equity products, like reverse mortgages, among both seniors and their financial advisors.
The National Reverse Mortgage Lenders Association says these seniors saw an increase of 2.8% in their home equity during the fourth quarter of 2016. That's an additional $170.7 billion dollars of a whopping $6.2 trillion worth of senior home equity.
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