Lender OneWest Bank has won a victory in a recent foreclosure case involving deceased borrowers and non-borrowing spouses, with a Florida appeals court reversed an earlier ruling in the case. The events surrounding the case of OneWest Bank, FSB v. ...
Read More »‘Survivor Bill of Rights’ is Gaining Traction
One of the states hit hardest by the foreclosure crisis has proposed legislation to protect families from foreclosure after the death of the borrower named on the mortgage.
Read More »Non-Profit Sues HUD Over Stalled Information Request on Reverse Mortgage Foreclosures
San Francisco-based non-profit California Reinvestment Coalition (CRC) filed a lawsuit in federal court against HUD, claiming that the Department improperly denied a fee waiver for a Freedom of Information Act (FOIA) request, according to an announcement from CRC.
Read More »FHA Revises Reverse Mortgage Program to Protect Non-Borrowing Spouses From Foreclosure
The revisions announced Friday allow for the deferral of due and payable status for reverse mortgages, hence protection from foreclosure, for certain eligible non-borrowing spouses upon the passing of the last surviving borrower for case numbers assigned prior to August 4, 2014. Last year, FHA's HECM policies were revised to include such protections for non-borrowing spouses on HECMs for case numbers assigned on or after August 4, 2014.
Read More »Consumer Advocates Concerned Over Non-Borrowing Spouses Facing Foreclosure
A group of consumer advocates has expressed concern over non-borrowing spouses facing foreclosure and eviction following the death of a borrowing spouse, according to comments the group recently submitted totaling 65 pages to the U.S. Department of Housing and Urban Development (HUD).
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