Most retirees don't resort to a reverse mortgage -- but as paltry retirement savings dwindle, will we see an increase in such home equity conversion mortgages? (Photo: AP)

Despite the fact that much, if not most, of their equity is tied up in their homes, most retirees aren’t thinking of home as a cash machine even when they need the money.

That’s according to a recent brief from the Center for Retirement Research at Boston College, which finds that middle-class Americans aged 65–69 have more or equal wealth in their home equity than in their financial assets. (Middle class, according to the brief, is defined as the middle 60 percent based on total wealth.)

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