For Release:  November 1997

Contact:
Ellen Potocki
National Center on Women & Aging
potocki@binah.cc.brandeis.edu
 

Waltham, Mass. -- The "good news": a majority of the elderly population own their homes, mortgage-free.  The "bad news": elderly homeowners often have very little money to spend due to very low annual incomes.  House-rich, cash-poor elderly homeowners often struggle to pay their bills.  Are "reverse mortgages" the answer?

In its November 1997 Women & Aging Letter, the Center on Women & Aging explores the mechanics of home equity conversions, with a focus on reverse mortgages.   Important considerations when deciding to take out a reverse mortgage are offered, along with a listing of additional resources.

Also featured:  Dr. Nina Silverstein reviews Deborah Doucette-Dudman's new book, Raising Our Children's Children -- a book offering important insights on situations where a grandparent is the primary caregiver in raising a child -- which is now true for 1.4 million children in America.

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The Center brings national attention to issues and policies that are facing midlife and older women.  The Center promotes feasible solutions to the problems women encounter and strives to insure that policymakers make informed decisions on issues of vital interest to women as they age.   A copy of the November Women & Aging Letter is being sent to key journalists in the areas of finance, womenís issues, and aging.

Support for the Center is provided by the John A. Hartford Foundation of New York City.  Since 1979, the Foundation has focused its support on improving the organization and financing of health care and assisting the health care system to accommodate the nationís aging population.