Reverse-Mortgage Relief Helps Surviving Spouse Keep Home – Even if not named on the reverse mortgage, widowed spouses may keep their houses courtesy of the FHA program called the Mortgagee Optional The program permits the lender to allow a surviving spouse to continue to live in the home, even when the surviving spouse isn’t listed on the loan.
Surviving Spouses File Reverse Mortgage Lawsuit Against HUD – Four surviving spouses of reverse mortgage borrowers filed a lawsuit this week against Department of Housing and Urban Development Secretary Shaun Donovan claiming they faced undue harm due to reverse.
HUD Reverses Course (Again) on Non-Borrowing Spouses. – The Department of Housing and Urban Development (HUD) continues to grapple with how mortgagees and servicers of Home Equity Conversion Mortgages (HECMs), commonly known as reverse mortgages, should proceed where a spouse that is not a party to the loan agreement or mortgage (a “Non-Borrowing Spouse”) survives a recently deceased borrower.
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Reverse Mortgage Protection for Surviving Spouses – AARP – Editor’s Note: On Sept. 30, 2013, a federal trial court in Washington, D.C., ruled that HUD violated federal law when it did not protect surviving spouses of holders of reverse mortgages. robert and ophelia bennett assumed that taking out a reverse mortgage on their Annapolis, Md., home, valued at $367,000 in December 2008, would help finance their retirement .
What Heirs Need to Know About Reverse Mortgages – Kiplinger – If one spouse has died but the surviving spouse is listed as a borrower on the reverse mortgage, he or she can continue to live in the home, and the terms of the.
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New Non Borrowing Spouse Regulations – Reverse mortgage – One Reverse Mortgage provides a brief overview of the new non borrowing spouse regulations released by the FHA. One Reverse Mortgage provides a brief overview of the new non borrowing spouse regulations released by the FHA.. In recent years, it has been argued that surviving spouses are not.
Boston Globe: New Reverse Mortgage Legislation to Benefit Surviving Spouses – New legislation to benefit the spouse of deceased reverse mortgage borrowers will allow them to stay in their home without the threat of foreclosure if they continue to pay taxes, insurance and.
AARP: HUD Should Repay Reverse Mortgages for Non-Borrowing Spouses – AARP is renewing its challenge against the Department of Housing and Urban Development (HUD) for failing to protect surviving spouses who are not named on a reverse mortgage loan, supporting an.
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Reverse Mortgage and Surviving Spouse’s Rights – YouTube – · Reverse Mortgages are unique in that they are not due payable until the death of the borrower. Sometimes, not due until after the death of the surviving spouse. Our.