Preventing Reverse Mortgage Foreclosures

March 12, 2020, 2:00 p.m. ET–3:00 p.m. ET
| Skill areas: 
Spotting and Investigating the Legal Issue
,
Strategy: Structuring and Plotting the Case

Private Members: $50
Legal Aid and Public Interest Members: $0
Nonmembers: $90 (Email training@consumeradvocates.org to start vetting process)

Many senior reverse mortgage borrowers and surviving spouses are facing foreclosure on reverse mortgage loans that were intended to provide greater stability to be able to age in place. Some reverse mortgage borrowers are at risk of foreclosure due to alleged default on property taxes and insurance, and they have difficulty accessing loss mitigation options. Non-borrowing spouses, who have been under threat of foreclosure after the death of the borrower spouse, can now benefit from a recently revised Housing and Urban Development (HUD) policy, but imminent deadlines will require prompt action. Consumer attorneys can play a vital role in helping older homeowners navigate these options to prevent foreclosure.

What You Will Learn

  • How FHA-insured reverse mortgages work and the circumstances that can lead to foreclosure
  • What loss mitigation options are available for borrowers who have defaulted on property taxes and/or homeowners insurance
  • How to take advantage of HUD’s new & improved policy (Mortgagee Letter 2019-15) for non-borrowing spouses to remain in the home after the borrower’s death

Presenter

Rachel Scott is a staff attorney in the Senior Citizens Law Project of the Atlanta Legal Aid Society, where she focuses on mortgage and homeownership issues affecting seniors. Rachel also works with the National Consumer Law Center to provide support to advocates representing consumers at risk of foreclosure on reverse mortgages.

CLE Credit

Are you interested in receiving CLE credit for this webinar? NACA does not seek CLE approval for each webinar in each individual state.  Individual attorneys can generally apply for, and receive CLE credit, in their respective states. Please note that NACA is now a State Bar of California MCLE Provider and this webinar is considered pre-approved for CLE credits for lawyers practicing in California. NACA will provide, upon request, certificates of attendance to be used in state bar applications and for records required by California attorneys. Email training@consumeradvocates.org to request a certificate of attendance. 

Refund Policy

Please note that there are no refunds for webinars since participants can view the presentation after it has taken place. If your registration was submitted less than two hours prior to the event, it is not guaranteed that you will receive access to participate in the live presentation. However, you will receive access to the recorded webinar in the coming days.

Why You Should Register Even If You Can’t Attend the Live Webinar

For each webinar you register for, regardless of whether you attend live, you will automatically receive an email inviting you to view a recording of the webinar and also containing attachments of the Power Point presentation and any other supplemental materials within two business days of the live webinar. This way, if you have a time conflict, you will be able to listen to the webinar and study the course materials at your convenience. If you have any questions, please email training@consumeradvocates.org.