Aging in Place Research Study at The Ohio State University

September 2013
The Ohio State University
Center for Human Resource Research

About the Study:

The purpose of the study is to provide a better understanding of whether, and under what circumstances, reverse mortgages lead to increased financial security, well-being and independence in older age. Reverse mortgages can serve as a substantial source of supplemental income in retirement while enabling older homeowners to stay in their homes. However, reverse mortgages are complex and costly financial products and little is known about their appropriateness and longer term impact.

In partnership with CredAbility (also known as Consumer Credit Counseling Services of Atlanta, or CCCS), this study will combine administrative data and survey data from households who have considered reverse mortgages. The results will help us better understand the financial challenges facing homeowners at or near retirement, and the role that reverse mortgages may play in improving financial security and well-being. Ultimately, our goal is that this research will inform policymakers to help make the program better in the future.

Funded by a grant from the John D. Catherine T. MacArthur Foundation. Read about the study on MacArthur’s website at:

www.macfound.org/press/press-releases/macarthur-awards-million-support-research-how-housing-matters/

Read more about the study at The New York Times:

http://www.nytimes.com/2013/09/29/realestate/carrying-debt-after-retirement.html

About the Research Team:

The Aging in Place Study is led by Dr. Stephanie Moulton, Associate Professor with the John Glenn School of Public Affairs at The Ohio State University. Professor Moulton’s research focuses on mortgage lending programs and interventions to help improve the financial well-being of low income and vulnerable populations.

Professor Moulton’s website: http://glennschool.osu.edu/faculty/moulton.html

OSU Co-Investigators include:
Donald Haurin, Professor Emeritus, Economics Website
Caezilia Loibl, Associate Professor, College of Education and Human Ecology Website
Jason Seligman, Assistant Professor, John Glenn School of Public Affairs Website

About the $100 Drawing:

You must agree to participate in the survey by July 1, 2015 5:00 PM EST to be entered into the drawing. Winners will be drawn at random on or before July 1, 2015 to receive a $100 Visa gift card. Winners will be notified by email, telephone or letter. The odds of winning a gift card are approximately 1 in 400. By agreeing to participate, you will be entered into the drawing. Completion of the survey is not required to be entered into the drawing.

INTERVIEWER TRAINING MATERIALS (Interviewer ID and password required):

Training Materials