As shown in Figure 17, these differences between HECM counselees and the general
population of older homeowners diverge dramatically when we look just at the late-
2000s time frame (2009 homeowner data and 2010 counseling participant data).
Homeowners in their 60s are more than twice as likely to have mortgage debt as
homeowners age 70 and older (61 percent vs. 29 percent), because homeowners pay
down their mortgages as they age. HECM counseling participants in their 60s are
about 20 percent (12 percentage points) more likely than the general population of
homeowners in their 60s to have mortgage debt. Meanwhile, HECM counseling
participants in their 70s are more than twice as likely to have mortgage debt than all
homeowners of the same age.