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The mortgage market collapse which followed the burst of the housing bubble in 2007 led to unprecedented levels of … mortgage default, mortgage foreclosure, and housing vacancies. The dramatic increase in mortgage terminations prompted … issues as the underlying causes of the mortgage market collapse and the impact of declining house prices on mortgage default …
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Few retirees use reverse mortgages. In this paper, we investigate how financial literacy and prior knowledge of the product influence take-up by conducting a stated-preference experiment. We exogenously manipulate characteristics of reverse mortgages to tease out how consumers value them and...
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elderly in one such instrument, the reverse mortgage. We draw from a unique dataset, UniCredit's 2007 survey on household …
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Reverse mortgage loans (RMLs) allow older homeowners to borrow against housing wealth without moving. In spite of …
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