Reverse Mortgage Servicing Companies Are Pulling A New Scam! What You Need To Know! It seems like Reverse Mortgage servicing companies are pulling a fast one on unsuspecting seniors with reverse mortgages. They are showing no shame in doing it either. Reverse mortgages are great because they give seniors who are house rich and cash poor […]
Seniors Rejoice As Reverse Mortgage Foreclosures Face New Restrictions In The City Of Brotherly Love Unpaid taxes are one of the most common excuses lenders give for initiating reverse mortgage foreclosures. Yet, lenders don’t take into consideration that most counties or major cities allow people to pay their taxes in installments. It also seems like lenders […]
Federal Courts Have Provided Non-Borrower Spouses With Protections From Reverse Mortgage Foreclosure Non-Borrower Spouses whose names were not on Reverse Mortgages were pretty screwed when the spouse died. However, in 2013, the federal court in the District of Columbia handed down a landmark ruling. The ruling recognized the need to protect surviving spouses in this situation. Bennett […]
HECM Reverse Mortgage Rules Allow Non-Borrower Spouses Of Reverse Mortgage Borrowers To Remain In The Home FHA announced changes to its HECM Reverse Mortgage rules two years ago. Yet, many people are unaware that these changes in the HECM program allow non-borrowing spouses to stay in their homes after the last surviving borrower dies. FHA released new […]
A Reverse Mortgage Can Subject You To Foreclosure If You Don’t Follow The Rules A reverse mortgage is available to senior citizens aged 62 or over. These specialized loans essentially use the equity in a home as the basis for cash payments to the senior. Seniors can utilize these payments to supplement Social Security and […]
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