Many seniors continue to face foreclosure on reverse mortgage loans that were intended to create stability for homeowners and their spouses to age in place. Some reverse mortgage borrowers are at risk of foreclosure due to alleged default on property taxes and insurance, and difficulty accessing loss mitigation options. Widow(er)s continue to face foreclosure following the death of the borrowing spouse due to short deadlines and other requirements to qualify for a HUD program that was intended to effectuate a statutory protection for non-borrowing spouses.
This webcast will provide advanced training for advocates to assist reverse mortgage borrowers and non-borrowing spouses in avoiding foreclosure. The training will focus on strategies ranging from loss mitigation to litigation related to: property charge defaults; alleged non-occupancy; non-borrowing spouses; and the recent bankruptcy filed by Reverse Mortgage Solutions (including the effect on existing cases and filing proofs of claim by April 1st). This training will assume an understanding of reverse mortgage basics.
• Rachel Scott, Atlanta Legal Aid
• Sarah White, Connecticut Fair Housing Center