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The Housing Market and Retirees
Many are entering retirement owing a huge amount of debt on their homes. This could result in dire financial straits for retirees, and could cause the loss of a home. In fact, housing debt for retirees is rising faster than the value of their homes and has seen an extreme increase over the last three decades. One report says that households relying on dual sources of income are at most risk in this situation, since the loss of one spousal income greatly increases the likelihood of succumbing to the debt and losing a home. For more information on this subject visit this article with Business Wire.
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