New York lawmakers passed a rule in 2017 that gives seniors facing reverse mortgage foreclosure the same protections they would have in a traditional foreclosure proceeding in the city.

USA TODAY’s review of government foreclosure data found a generation of families fell through the cracks and continue to suffer from reverse mortgage loans written a decade ago. These elderly ...

Hesitant to sign up for a reverse mortgage? CNBC Select outlines the alternatives, including refinancing and home equity ...

Credit pressures are mounting for thousands of veteran homeowners as the VA ends a program that helped many avoid foreclosure ...

Can I lose my home with a reverse mortgage? Yes. Borrowers can lose their home to foreclosure with a reverse mortgage for several reasons. The most common source of foreclosures on a home with a ...

Strict rules must be followed to avoid foreclosure, and the costs can outweigh the benefits. If you’re considering a reverse ...

Experts suggest that homeowners stay in communication with their reverse mortgage provider and take prompt action if problems arise to prevent foreclosure. It’s important to maintain accurate ...

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 ...

Reverse mortgage proceeds may affect your eligibility for means-tested federal government programs like Medicaid or Supplemental Security Income. Foreclosure risk. Failing to pay property taxes or ...

Early foreclosure reports taken out of context ... Certain tweaks, innovations, and legislation added to the reverse mortgage model have been enacted over the past several decades that have ...

In May 2022, the property was sold at a foreclosure auction ... and ordered that RMF’s mortgage was divested,” the ruling said. “We, therefore, reverse the court’s order granting the ...