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Retirees Need Better Understanding of Home Equity

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While the finding by an American College of Financial Services study that a majority of retirees want to stay in their homes after retirement is not surprising, one has to take pause at the lack of understanding the survey revealed when it comes to knowing how to capitalize on the equity in their homes. This should be of particular concern to black families.

The Home Equity and Retirement Income Planning Survey found that 83% of the respondents do not want to relocate in retirement.