Alzheimer's takes a financial toll long before diagnosis, study finds
Long before people develop dementia, they often begin to fall behind on mortgage payments, credit card bills and other financial obligations, new research shows.A team of economists and medical experts from the Federal Reserve Bank of New York and Georgetown University combined data from Medicare with data from Equifax, the credit agency, to study how people's borrowing behavior has changed in previous years and following the diagnosis of Alzheimer's or a similar disease. I disturb.What they found was surprising: Credit scores among people who later develop dementia begin to decline dramatically long before their disease is formally identified. One year before diagnosis, these people were 17.2% more likely to have defaulted on mortgage payments than before the onset of the diseas...