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The month of May is Older Americans Month, a celebration of the population age 65 and older. Read on to learn more about the history of this observance, and current statistics on the older population, such as diversity representation, gender differences, education, income, poverty rates and more.
Starting May 1, there will be a new way for seniors to attain reverse mortgages from what is called a Caregiver Loan. This loan will allow adult children or grandchildren of seniors to pool resources to provide a flexible line of credit at interest rates much lower than commercial reverse-mortgage lenders charge.
The population of seniors in the United States is increasing rapidly due to the aging baby boomer generation. Some cities are experiencing rapid growth more so than others. It’s important for real estate agents to be aware of these locales and understand the best strategies for appealing to this growing demographic.
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