10.5 million borrowers at or over age 65 still have forward mortgages

According to a study by LendingTree, over 10.5 million Americans aged 65 and older are still making payments on forward mortgage loans, highlighting the significant financial burden this group faces.

The analysis revealed that nearly 20% of homes with mortgage loans across the largest 50 metro areas are owned by individuals aged at least 65, indicating a notable trend in housing stability challenges among seniors.

Among the largest metro areas examined, Las Vegas, Los Angeles, and San Diego stand out, with more than 25% of homeowners being at least 65 years old, reflecting a demographic shift in these regions.

Despite the challenges of maintaining mortgage payments, older homeowners tend to have lower monthly housing costs compared to younger homeowners, primarily because their homes are usually of lesser value.

Read at www.housingwire.com