Report on the 2006 AARP National Survey of Reverse Mortgage Shoppers

Results of the first nationally representative survey of reverse mortgage shoppers—older homeowners who have gone through reverse mortgage counseling and either taken out a loan or decided not to do so—are presented in this AARP Public Policy Institute (PPI) Research Report by Donald L. Redfoot of PPI, Ken Scholen of the AARP Foundation, and S. Kathi Brown of AARP Knowledge Management. This survey provides the first detailed look at consumer interest in reverse mortgages, consumer experiences with lenders and counselors, why some consumers decide against these loans, how borrowers use the loan proceeds, and how well reverse mortgages address borrower needs.