Survey: Few retired people expect to pay off their mortgages

A recent survey found 44 percent of Americans age 60 to 70 have a mortgage when they retire, with as many as 17 percent saying they may never pay it off.

Burning the mortgage deed in celebration of owning your home free and clear, once a ritual for most older Americans on their way to retirement, has become less common.

Source: Survey: Few retired people expect to pay off their mortgages

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