Many Older,retired Households Are Considered "House Poor

question 14

Multiple Choice

Many older,retired households are considered "house poor." Which of the following forms of loans has been designed to help mitigate this problem by offering additional monthly income to these homeowners in exchange for a portion of their housing equity?

• A)Purchase-money mortgage (PMM)
• B)Package mortgage
• C)Home equity loan
• D)Reverse mortgage

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Definitions:

Perceived Self

An individual's own view and understanding of themselves, including their attributes, traits, and personality.

Organismic Self

Organismic Self is a concept in psychology emphasizing the integrated and holistic nature of an individual's self, fully functioning and adapting in a dynamic environment.

Person Centered Theory

A psychological approach developed by Carl Rogers emphasizing the importance of an individual's self-concept, and the therapeutic process of providing unconditional positive regard to facilitate personal growth.

Maslow's Needs

A hierarchy of human needs proposed by Abraham Maslow, starting from physiological needs to safety, love/belonging, esteem, and culminating in self-actualization.