Tuesday, March 18, 2008

RETIRED workers are being forced to borrow against the value of their homes to cover the higher cost of living in Australia.

Retirees fast-forward to reverse mortgages

There are now 33,700 reverse mortgages in Australia totalling more than $2 billion in value - a rise of 34 per cent in the past year. Deloitte partner James Hickey said that during the past year $466 million was borrowed - the majority in a lump sum, rather than an income stream.

Posted by chris @ 10:11 PM (416 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>