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4 May 2021, 12:37 pm by Richard J. Andreano, Jr.
” One letter sent to 30,000 consumers with existing reverse mortgage loans claimed to have “exciting news regarding your reverse mortgage,” announcing that the consumer could “TAKE FULL ADVANTAGE OF YOUR REVERSE MORTGAGE” and “be eligible for more cash,” without having to pay any origination charges. [read post]
28 Feb 2012, 12:57 am
Kelsey Torrey Hull, Jonathan Alred Kimpson, James Michael Green, Herbert Bush, Wilbur "Sonny" Letak, Kevin Claude Barnett, were each sentenced to prison for multiple charges relating to a reverse mortgage scheme targeting the elderly. [read post]
6 Aug 2010, 11:08 am by Lynne Butler
A reverse mortgage is often described as a way seniors - those who are house-rich but cash-poor - can continue to live in their homes and generate extra tax-free cash flow. [read post]
4 Aug 2011, 7:26 am
Louis Gendason, 42, Delray Beach, Florida, Kimberly Mackey, 46, Pittsburgh, Pennsylvania, and John Incandela, 24, Palm Beach, Florida, each plead guilty to their participation in a $2.5 million Home Equity Conversion Mortgage (a.k.a. reverse mortgage) fraud scheme. [read post]
17 Oct 2012, 9:50 am by Walden & Pfannenstiel, LLC
Kansas Seniors At Risk Of Facing Foreclosure As Defaults on Reverse Mortgages Hit Record Rates In 2007 I was skeptical, at best, about Reverse Mortgages. [read post]
15 Dec 2009, 5:16 am by Howard | Nassiri, PC
According to the article, the Federal Housing Administration, which insures reverse mortgages, has increased its standards for required reverse-mortgage counseling since an investigation found numerous counselors omitting important information. [read post]
1 Apr 2016, 5:41 am by Katie Porter
Even the reverse mortgage industry rag is excited at its publicity rash. [read post]
7 Apr 2016, 4:00 pm by Gerry W. Beyer
This article provides a warning about how reverse mortgages are often complicated and might not always... [read post]
The Washington Post reminds us that changes to federal law for government-backed reverse mortgages, adiopted in 2014, are about to kick in: "Interested in a reverse mortgage without a lot of hassles? [read post]
22 Jan 2016, 2:00 pm by Gerry W. Beyer
This advice column discusses a situation involving a person with a reverse mortgage who filed for bankruptcy. [read post]
One option for seniors needing more income late in life is using the equity in their homes, and "reverse mortgages" may make it possible for the older homeowner to stay in the home longer. [read post]
29 Aug 2013, 6:37 am
Reverse mortgages are only available to those who are at least 62 years old. [read post]
22 Jun 2017, 5:38 am by Coleman Braun
The Appellate Court of Illinois, First District, recently ruled that the mortgagee of a reverse mortgage loan held an interest in the secured property to the extent that the borrower inherited an interest in the property following the non-borrower’s spouse’s intestate death. [read post]
22 Jun 2017, 5:38 am by Coleman Braun
The Appellate Court of Illinois, First District, recently ruled that the mortgagee of a reverse mortgage loan held an interest in the secured property to the extent that the borrower inherited an interest in the property following the non-borrower’s spouse’s intestate death. [read post]
17 Jan 2011, 5:12 am by Alan Augulis, Estate Planning Attorney
The post Reverse Mortgages At A Glance appeared first on Augulis Law Firm. [read post]
1 Jul 2011, 9:11 am by Tomassi Law Associates
The current risks to large banks, however, relating to the pending foreclosures on seniors with reverse mortgages who have failed to meet tax and insurance obligations, have made reverse mortgages a tough sell. [read post]
27 Oct 2009, 9:25 am
The same subprime mortgage abuses and even the same individual scam artists are showing up in the reverse mortgage market, putting at risk the equity and savings of millions of seniors. [read post]
24 May 2018, 8:40 pm
”)  This article focuses on reverse mortgages, including:* who should consider a reverse mortgage;* how reverse mortgages work;* the foreclosure risks;* the impact on spouses, partners, and heirs; and* whether taking out a reverse mortgage is a good idea. [read post]