Aging in Place Research Study - Survey Justifications
This work is primarily funded by the MacArthur Foundation with additional funding from the US Department of Housing and Urban Development. They are interested in helping ensure the well-being of seniors who use, or who may consider using reverse mortgages.
The questions deal with various aspects of respondents’ life since they received reverse mortgage counseling. It asks for details about the reverse mortgage and the counseling process, and also includes questions about some basic aspects of things like health, personal financial situation, and living arrangements. We are very interested in learning whether respondents understand the product and whether they feel they have benefitted from their exposure to it – regardless of whether or not they took out any such mortgage following counseling.
Our findings will be made public via academic research articles and reports. Should they, a friend or family member seek another reverse mortgage in the future they should know that results from the survey will be used to help the federal government and housing counseling agencies make reverse mortgages a better product for seniors.
As well, the interviewee may be interested to know that the nonprofit organization, CredAbility, may offer free financial counseling over the telephone to homeowners with reverse mortgages within the next few months and that they may be eligible to participate (conditional on whether they have a reverse mortgage).
Reverse mortgages hold the promise of helping seniors enjoy a better standard of living while ageing in the home and community they love. However they are still relatively new products and so we are interested in ensuring they live up to this potential with as few downside risks as possible.
As an interviewer, your work with us on this survey is contributing to a culture that respects its elders, and honors their opportunities to age with dignity as vibrant contributing members to their communities.
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