In the News

Title

With “Gray Divorce” on the Rise, Reverse Mortgage Lenders See Opportunity

Document Type

Article

Publication Date

5-7-2017

Abstract

The Pew Research Center made a splash back in March with data that showed the fastest divorce-rate gains over the last 25 years belonged to Americans 50 years or older: 10 out of every 1,000 married people in that age group divorced in 2015, as compared to just 5 out of 1,000 in 1990.

Divorces remain rare among that cohort, with younger people still accounting for the most marriage splits; for comparison, 24 out of every 1,000 married Americans between the ages of 25 to 39 called it quits in 2015. But the doubling of divorces among older people — a figure that goes up to nearly triple for people older than 65 — was enough to inspire renewed discussions of how the Home Equity Conversion Mortgage can help with post-divorce financial woes.