AARP reports that many older Americans were hit hard by the mortgage crisis of recent years. According to AARP, as of the end of 2011, some 3.5 million mortgages of those age 50+ were under water. What's more, from 2007-2011, there were 1.5 million older Americans who lost their homes because of the economy. An overview and the full July 2012 AARP study, Nightmare on Main Street: Older Americans and the Mortgage Market Crisis, may be found at http://www.aarp.org/money/credit-loans-debt/info-07-2012/nightmare-on-main-street-AARP-ppi-cons-prot.html
Blog Author - Ken Felsher
With over 25 years of writing, editing, and research experience. I enjoy sharing with my readers my love of working with content on a variety of subjects.