Heirs attempting to payoff reverse mortgages face hurdles or accelerated foreclosures Losing a parent is truly a heart-wrenching experience. One that many of you our viewers, and myself have endured. Compounding the grief is the frustration in settling the financial affairs of your loved one. According to a recent
The Urban Institute calls for loan servicing reform Despite the good news last month that the backlog of HECM assignments has been cleared, significant problems remain according to the Urban Institute. “Rather than continuing to narrow eligibility—and decreasing participation further—the FHA should focus on reducing costs. Addressing losses on assigned
HECM borrowers with loans serviced by RMS have questions after receiving bankruptcy notices from Ditech The financial woes of Ditech have been documented in recent months. The parent company of RMS (Reverse Mortgage Solutions) is sending out required notices of Ditech’s bankruptcy proceedings which have triggered concerns for many borrowers.