Reverse Mortgage – True or False Quiz

“For the average American couple at age 65, home equity makes up more than two-thirds of their total wealth, according to 2011 U.S. Census data. More specifically, the median net worth for married couples age 65 and older is $284,790. Of this amount, $192,552 is in home equity, and $92,238 is in non-equity assets, including IRAs, other savings, and personal property.” – Journal of Financial Planning May 2017 Paper 

“A reverse mortgage is a powerful tool that should be evaluated in the context of a client’s overall financial plan and investment portfolio.” – Parker Evans, CFA, CFP, CMT

Take the Ten Question Reverse Mortgage Financial Literacy Quiz

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The correct answer is shown in the third column. In column four, “Percent Correct” shows the result of a survey of 1,000 Americans ages 55 to 75.