foreclosure

Foreclosure Confusion & Media Fallout

Shannon Hicks
 HECM loan terminations and ‘foreclosures’ source of recent negative press coverage Let’s face it. Foreclosure is an ugly and scary word. Unfortunately, it’s the same word that is commonly used when a Home Equity Conversion Mortgage is terminated- often when the loan balance exceeds the home’s value. Additional resources:

A Surprise HECM Foreclosure?

Shannon Hicks
Possible Remedies to Prevent HECM Defaults The reverse mortgage industry could lament it’s treatment in the media, in the words of Rodney Dangerfield, “that’s the story of my life…no respect”. NBC4’s consumer reporter dramatically recounts the tale of a HECM borrower who narrowly avoided foreclosure. The borrower’s power of attorney

The Myth of Reverse Mortgage Foreclosures?

Shannon Hicks
Guttentag Questions the Definition of a HECM ‘Foreclosure’ “Whoever controls the language controls the debate”. The purported ‘epidemic’ of reverse mortgage foreclosures has long been a staple for major media outlets to attack the reverse mortgage as a risky and dangerous loan. Closer to home, the incidence of HECM foreclosures

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