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 at what real estate columnist had to say recently.
Continue readingCelink & Reverse Mortgages – Curing T&I Defaults: A servicers perspective
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Learn what Celink is doing to help borrowers prevent and cure tax and insurance defaults for reverse mortgage borrowers.
A Behind The Scenes Look At Curing Tax & Insurance Defaults
Our exclusive interview with Celink’s John LaRose at last month’s NRMLA meeting uncovers some of the steps being taken by reverse mortgage servicers to cure tax and insurance defaults.
Financial Underwrite A Go: Industry Leader Update
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HUD has made it official, reverse mortgage lenders have the authority to help prevent tax and insurance defaults when it comes to financial underwriting and potential reverse mortgage borrowers assessments.
101 year old evicted in Reverse Mortgage T&I Default: Industry Leader Update
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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. Â Â Updated story of eviction here.
