Housing is becoming a greater burden on senior finances as the percentage of the elderly paying off mortgages has soared by nearly 50%, the Consumer Financial Protection Bureau warned in a consumer advisory Wednesday.

The number of senior homeowners with mortgages rose from 22 percent in 2000 to 30 percent in 2011. At the same time, there was a fivefold increase in the rate of delinquent mortgage holders age 65 to 74 (those with mortgage payments 90 days late or in foreclosure), who saw their numbers rise from 0.85 percent to 4.96 percent.

The CFPB is blaming a lot of the problem on the easy money lending practices of the early 2000s. The industry saw a proliferation of home equity loans, while borrowers were given refinancing terms that might have cut their current rates but prolonged those repayments into retirement. Homeowners were also permitted to make smaller down payments.

These trends have led to a spike in the median mortgage debt held by seniors from $43,400 to $79,000.

“As more seniors carry significant mortgages into retirement, they put themselves at risk of losing their nest eggs and their homes,” said CFPB Director Richard Cordray in a statement.

While delinquency and foreclosure rates have decreased since 2012, the CFPB warned that foreclosure is still a bigger problem for older homeowners, who have a harder time recovering since they are also likely facing health problems, cognitive impairment and difficulties returning to the work force.

Here are steps the consumer bureau is urging older adults to take to keep housing from sinking their financial well-being in retirement:

  • Pay off the mortgage before retirement.
  • Consider a shorter-term mortgage, one lasting 10 or 15 years, when refinancing or buying a new home close to retirement. The higher payments will be a bigger burden now but a significant financial relief later because you will be free of the mortgage expense when retirement comes and work income goes away.
  • Remember that some expenses other than housing, especially health care, are often significantly greater in retirement years than working years.