Reverse Mortgage

New York Legislature Passes HECM Foreclosure Legislation

The New York legislature has passed a bill that will require lenders to notify the state’s Department of Financial Services (DFS) and mortgagors of impending foreclosure actions against homeowners with reverse mortgages. The post New York Legislature Passes HECM Foreclosure Legislation appeared first on DSNews.

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New Law Extends Protections for Reverse Mortgages

Borrowers in the D.C. area who have fallen into delinquency have received good news in the form of amendments to the Reverse Mortgage Insurance and Tax Payment Program Temporary Amendment Act of 2020. The post New Law Extends Protections for Reverse Mortgages appeared first on DSNews.

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The Reverse Mortgage Conundrum

The reverse mortgage process can be complicated. Here’s how reverse mortgages may be a positive tool for borrowers facing default, and how it could lead to foreclosure. Editor’s note: This feature originally appeared in the January issue of DS News, out now. The post The Reverse Mortgage Conundrum appeared first on DSNews.

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