Americans View Mortgage Debt More Favorably Than Other Types of Debt, But Views Change in Retirement
Consumers view mortgage debt more favorably than other types of debt, but that decreases during retirement as opposed to working years, according to a LIMRA study.
The survey found while two-thirds of consumers see mortgage debt during working years as “good” debt, only 4 in 10 feel the same way in retirement. Two-thirds of respondents said people shouldn’t carry mortgage debt into retirement.
As for the least favorable debt to have in retirement? 81 percent of consumers said it was student loan debt. The least favorable debt held during working years is credit card debt, with 7 in 10 people reporting credit card debt shouldn’t be carried into retirement.