This website has several articles about reverse mortgages, including What is a reverse mortgage?” and How does a reverse mortgage work?” plus a reverse mortgage calculator.
- You Have a Reverse Mortgage: Know Your Rights and Responsibilities
- Senior’s with Reverse Mortgages Threatened by Ditech Plan
- Reverse Mortgages—Why Seniors Lose Their Home
- Reverse Mortgage—Good or Bad Idea?
The Consumer Finance Podcast, LAW MONITOR
4/2025 A podcast by Troutman Pepper Locke lawyers on issues related to reverse mortgages. In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Megan Burns, Jason Manning, and Punit Marwaha to explore the arcane world of reverse mortgages. They provide valuable insights about how these unique financial products work, the regulatory landscape, and the litigation hurdles faced by reverse mortgage servicers. Listen to this episode to hear real-life examples highlighting the complexities reverse mortgage servicers may face when dealing with reverse mortgages, including loan origination requirements, the involvement of the U.S. Department of Housing and Urban Development, Federal Housing Administration guidelines, alleged third-party fraud, and the sensitivity around elderly borrowers.
This excellent 20-minute podcast has very basic information about reverse mortgages. Link to the transcript of the podcast.
The discussion includes some of these issues:
- Only spouse one is on the title and the debt to the home with a reverse mortgage, but spouse two is not on the title or debt. When spouse one dies, that leaves spouse two with serious issues – can they stay in a house their name is not on the title?
- The borrowing spouse is no longer living in the house (perhaps in a medical care facility); the lender can foreclose.
- There was fraud committed by others regarding the senior’s home. The fraud occurred when the senior deeded the house to a con artist who obtained a reverse mortgage under the senior’s name. The con takes the proceeds from the reverse mortgage.
- Junk fees
- Default because of death
- Default because of failure to pay taxes or insurance
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
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