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    rs between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the

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    A recent study reveals that fewer homeowners are retiring without owing a mortgage.

    The study, prepared by the Joint Center for Housing Studies at Harvard, found significant changes in debt patterns from 1990 to 2000.

    While homeowners used to pay off their mortgage in 20 years and retire in a free-and-clear home, this trend is experiencing quite an extinction.

    Homeowners are using their equity in new ways to fund a variety of housing and personal expenses.

    In 1989, 54% of homeowners between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the s

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    er for Housing Studies at Harvard, found significant changes in debt patterns from 1990 to 2000.

    While homeowners used to pay off their mortgage in 20 years and retire in a free-and-clear home, this trend is experiencing quite an extinction.

    Homeowners are using their equity in new ways to fund a variety of housing and personal expenses.

    In 1989, 54% of homeowners between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the

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    pay off their mortgage in 20 years and retire in a free-and-clear home, this trend is experiencing quite an extinction.

    Homeowners are using their equity in new ways to fund a variety of housing and personal expenses.

    In 1989, 54% of homeowners between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the

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    omeowners are using their equity in new ways to fund a variety of housing and personal expenses.

    In 1989, 54% of homeowners between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the

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    rs between 55 and 64 were mortgage free. In 1998, only 39% were mortgage free.

    There are many reasons pointed out in the study to be factors in the rise of mortgages in those nearing retirement age -- waiting to marry, divorce, remarriage, two-paycheck families, living longer and health care costs. The increasing financial needs of the American family has also contributed to the emergence of higher mortgage debt for retirees.

    Across the board, homeowners in all age groups have significantly more debt than ever before. According to the Federal Reserve, the average debt of a homeowning household grew from $40,600 in 199

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