“Why home equity should be in the long-term care conversation,” by Chris Clow, HousingWire
“Long-term care is emerging as a key concern for older Americans, especially since its costs will most likely need to be covered from a fixed income. … Citing data from the National Reverse Mortgage Lenders Association (NRMLA), senior-held home equity rose to more than $13 trillion in first-quarter 2024. Deploying this equity by converting it into liquid funds may be an option for the right person … .”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Blame Medicaid’s home equity exemption, over one million dollars in some states, for the loss of these trillions from private LTC financing. Think of how much more and better LTC would be available to homeowners if they were not diverted to nursing homes funded by public welfare to protect heirs’ inheritances.
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