Appearing in Next Avenue on June 9, 2025, Chris Farrell interviews NCLC Senior Attorney Odette Williamson for coverage of how more people are borrowing more money to buy more expensive homes, making it hard to pay off mortgages before retirement.
“What we’re seeing is that people are cashing out the equity in their homes to pay for basic necessities, to pay for home repair maintenance, or sometimes to modify their home, maybe to add a grab bar or other sort of assistive device to their home. They’re using it, increasingly, to pay for increases in insurance or property taxes and other mortgage-or household-related expenses.” They’re definitely cashing out more of the equity in their home.”
Odette Williamson, senior attorney at the National Consumer Law Center.
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