Home Ownership Resources and Tools for Seniors

Related topics: Financial Planning, Legal, Financial

Did you know some home modifications are tax deductible?

As we saw in the previous article, our homes are much more than just shelter; they are a place of family and shared memories, and an important financial asset.  However, as you age, your home may become a burden because of rising costs or its inability to accommodate your changing physical needs. Here are resources from the National Council on Aging (NCOA) to help you modify your home, make decisions about moving, learn about accessing home equity, and find out what to do if you are facing foreclosure.

Home Modification

A home purchased earlier in life may not suit your needs as you grow older. There are resources that can help you think through what modifications you can make to your home to better accommodate your situation. Learn more

Moving and Downsizing

The decision to rent, buy, or move depends on many factors, including your budget and your current needs. Consider your options carefully. This calculator can help you decide if moving is best for you.

Reverse Mortgage

A reverse mortgage is a type of home loan that allows seniors to convert the equity in their home to cash to meet a wide range of financial needs. Learn more


If you are at risk for foreclosure, there are several government and nonprofit programs that can provide you with information, assistance, and counseling to deal with foreclosure and avoid scams. Learn more

The U.S. Department of Housing and Urban Development can connect you with a free counseling agency that can help. Find the agency closest to you

The Federal Reserve Bank also can help you locate foreclosure centers in your area. The Bank provides comprehensive guides on dealing with a foreclosure, keeping your home, and avoiding scams. Learn more.

Are you making the most of your money? Take a short assessment and get personalized recommendations to help you with budgeting, money management, and much more.

The National Council on Aging (NCOA) is a respected national leader and trusted partner to help people aged 60+ meet the challenges of aging. Their mission is to improve the lives of millions of older adults, especially those who are struggling. Through innovative community programs and services, online help, and advocacy, NCOA is partnering with nonprofit organizations, government, and business to improve the health and economic security of 10 million older adults by 2020.