AARP Sues HUD For Illegal Reverse Mortgage Foreclosures

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AARP Sues HUD For Illegal Reverse Mortgage Foreclosures

AARP Sues HUD For Illegal Reverse Mortgage Foreclosures

from AARP’s Press Release:

The plaintiffs, from Indiana, New York, and Maryland, are represented by AARP Foundation Litigation and the Washington, DC law firm of Mehri & Skalet, PLLC.  The lawsuit, filed in U.S. District Court for the District of Columbia, seeks an injunction prohibiting HUD from abandoning long-standing rules and from illegally foreclosing on surviving spouses.  These arbitrary changes allow lenders to initiate foreclosure and eviction actions against the plaintiffs.

The case will have broad national implications, because the outcome will determine whether spouses will be able to stay in homes that are now “underwater” as a result of the housing downturn, a possibility that reverse mortgage borrowers have always paid insurance premiums to protect against.

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