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A Method to Study Adaptation to Left-Right Reversed Audition
Published on: October 29, 2018
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The Relationship Between Reverse Mortgage Borrowing, Domain and Life Satisfaction.
Cäzilia Loibl1, Donald R Haurin2, Julia K Brown3
1Department of Human Sciences, The Ohio State University, Columbus.
Summary
Reverse mortgages improve financial and housing satisfaction for older adults. While health and daily life satisfaction remain unchanged, these loans positively impact overall life satisfaction for borrowers.
Area of Science:
- Gerontology
- Financial Gerontology
- Consumer Finance
Background:
- Reverse mortgages enable homeowners aged 62+ to access home equity without monthly payments.
- Understanding the impact of reverse mortgages on seniors' well-being is crucial for financial planning and policy.
Purpose of the Study:
- To investigate the association between reverse mortgage utilization and satisfaction levels in older adults.
- To compare satisfaction across financial, housing, health, and life domains between borrowers and non-borrowers.
Main Methods:
- Utilized a national dataset of 1,088 older adults, including loan data, credit histories, and survey responses.
- Employed a comparative strategy, contrasting reverse mortgage borrowers with eligible non-borrowers who received counseling.
Main Results:
- Reverse mortgage borrowers reported significantly higher financial and housing satisfaction than non-borrowers.
- No significant differences in satisfaction were observed for health, daily life, or leisure activities.
- Housing satisfaction was a stronger predictor of general satisfaction for borrowers, while health satisfaction was more influential for non-borrowers.
Conclusions:
- Reverse mortgage borrowing is positively linked to enhanced financial and housing satisfaction among older adults.
- These findings offer valuable insights into the experiences of reverse mortgage borrowers, particularly concerning their overall life satisfaction.
- The study contributes novel knowledge regarding the long-term outcomes associated with this financial instrument.
Keywords:
General and domain satisfactionHome equity withdrawalHousing wealthMortgage debtReverse mortgageMore Related Videos
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