More Than 10M Seniors Still Saddled With Mortgage Payments

  • A new report from Lending Tree found that more than 10 million seniors aged 65 and older still are paying off their home mortgages.
  • Lending Tree found that 19% of 65 and over homeowners are making monthly mortgage payments and that homes owned by this group tend to be less valuable than those owned by the general population.
  • The cities of San Diego, Miami, and Las Vegas led the way with the largest share of 65-and-over homeowners with a mortgage. Almost 24 percent of homeowners in these areas are still paying off mortgage debt.
  • Salt Lake City, Austin, and Dallas had the smallest share of the 65-plus crowd owing money on their homes. Just shy of 14 percent of them still have mortgages.
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