Moral Hazard? One definition is the lack of incentive to guard against risk because one is protected from the consequences while the risk rests on another party. Is that what we have with reverse mortgage borrowers who have defaulted? Non-payment of taxes and insurance has been an issue. A look
AARP still calls it a 'loan of last resort'. Will cash-burn by younger borrowers increase future defaults and foreclosures?
Is the proverbial "horse out of the barn" when it comes to Reverse Mortgage Tax & Insurance Defaults? A problem that was quietly brewing for more than a decade grew into glaring issue with the crash of housing values in 2007 & 2008. Many borrowers hit hard financially
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Preventing Foreclosure Personal success stories are a powerful vehicle to imprint the value of a product or service in potential clients’ minds. The following true tale will brighten your prospects’ holiday season. Reverse Mortgage To Prevent Foreclosure Reverse mortgage was a lifesaver for 77-year-old Isidoro, who had been in foreclosure
[vimeo id=”29168490″ width=”601″ height=”338″] The behind the scenes of the eviction of a 101 year old Detroit woman due to tax & insurance default on reverse mortgage Video grabs from WXYZ television in Detroit. Original Story of eviction here. Updated story of eviction here.