You have a reverse mortgage: Know your rights and responsibilities

MUSINGS BY DIANE:

Seniors should not be faced with homelessness because their spouse signed a reverse mortgage not understanding the legal consequences.  Don’t misunderstand me, there are good reverse mortgages that help the homeowner to stay in their home for as long as physically and psychologically possible.  Unfortunately, sleazy lenders saw seniors as easy targets for scams. 

Generally seniors trust those who are advertise themselves as “experienced”, whether the plumber, real estate agent, lawyer or doctor.  Trust must be earned, not freely given.  Always investigate any professional who is supposed to help you.  I say this time and again, typically you should be able to trust your gut.  Unfortunately, some con-artists are really good at deceiving others.  Reach out to family and friends for their guidance and common sense thoughts.

– Diane L. Drain
Published On: March 9th, 2021By Categories: About Diane Drain, Consumer Issues, reverse mortgageComments Off on You Have a Reverse Mortgage: Know Your Rights and Responsibilities

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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.*