How Mortgage Debt Can Threaten Retirement for Boomers

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February 03, 2015

Debt levels among Americans age 55 and older continue to climb, Realtor.com reports. This puts millions of families and their homes at risk.

Data came from a report titled “Debt of the Elderly and near Elderly, 1992-2013,” put together by the Employee Benefit Research Institute in Washington, D.C. The percentage of American households where the head of household was age 55 or older that had financial liabilities increased to 65.4 percent in 2013, compared with the 1992 level of 53.8 percent.

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