Home equity conversion and the financing of long-term care.
Home equity conversion for the elderly is a means for elderly homeowners to draw down a portion of their accumulated wealth without having to sell their homes and/or move. The instruments to convert equity have substantial promise for matching the expenditure needs associated with long-term care services. There have been no formal attempts to pair these potential revenues and expenditures, but the revenue instruments are evolving to a point where such combinations are realistic and reasonable. This article describes why and how such a match might work.
D000368:Aged; D005382:Financing, Personal / Q000379:methods*; D006798:Housing / Q000191:economics*; D006801:Humans; D008134:Long-Term Care / Q000191:economics*; D014481:United States