20 percent of pre-retirees and 16 percent of retirees plan to use home equity to help pay for retirement

A report from the Society of Actuaries shows that only 20 percent of pre-retirees and 16 percent of retirees plan to use home equity to help pay for retirement. Of the respondents who do plan on tapping the accumulated value in their homes, the research shows that 56 percent of pre-retirees and 45 percent of retirees would sell their property to access the funds. Meanwhile, 20 percent of retirees and 9 percent of pre-retirees would take out a home equity loan; 9 percent of pre-retirees and 12 percent of retirees would take out a reverse loan; and 5 percent of both would seek a new loan on their home. Source: MarketWatch

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