There were 361 complaints about reverse mortgages submitted to the CFPB in 2023, a number that dropped to 298 in 2024.

Reverse servicing pro Jared Skrabala says a 2023 action tied to a Colorado fire could help impacted HECM borrowers in Los ...

Reverse mortgages allow seniors to borrow against their home equity. If the borrower dies, a reverse mortgage falls to their ...

David Herron's home in North Lawndale has been in his family for more than six decades. Among other repairs, it needs a new ...

A reverse mortgage allows older homeowners to borrow ... property taxes or property maintenance or risk foreclosure. And the loan can come due early if it's shown you're not using the property ...

Failing to do those things is considered defaulting on the mortgage and could lead to foreclosure. A reverse mortgage can have a fixed or variable rate and the funds can be issued as a lump sum ...

But reverse mortgages are complex and controversial. Strict rules must be followed to avoid foreclosure, and the costs can ...

the lender can initiate foreclosure proceedings to take ownership of the property. In a divorce settlement, one spouse may take out a reverse mortgage to buy out the other spouse’s interest in ...

Consumer Financial Protection Bureau. "Reverse Mortgage Loans." Federal Housing Finance Agency. "FHFA Extends COVID-19 Forbearance Period and Foreclosure and REO Eviction Moratoriums." ...

Twenty-year mortgage terms and lower debt-to-income ratio would more responsibly support increased homeownership than many ...

( MENAFN - EIN Presswire) Faith, Advocacy, and legal Expertise Unite to Reverse Foreclosure and Restore Homeownership Stability ...

A Chicago contractor accused of scamming elderly homeowners out of millions of dollars was sentenced to 205 months in prison Thursday. Mark Diamond pleaded guilty in May to a federal charge of wire ...