Be Afraid Baby Boomers have not paid off the Mortgage Yet
Another foreclosure crisis driven by Baby Boomers might be just around the corner.
Large numbers of retired Baby Boomers will eventually lose their homes to foreclosure because of this situation.
Over half of Baby Boomers born after 1951 are still making mortgage payments even as they approach retirement age, Fannie Mae’s Housing Insights newsletter estimated. To make matters, around half of the oldest Baby Boomers; many of whom are already retired, are still making mortgage payments.