Victory for HECM Non-Borrowing Spouses at Last

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Victory for HECM Non-Borrowing Spouses at Last

Victory for HECM Non-Borrowing Spouses at Last

National Mortgage Professional Magazine –

After more than six years of struggle for justice for older Americans whose spouses borrowed money through HECM reverse mortgages, we have victory!

HECM surviving non-borrowing spouses will be able to stay in their homes if their borrowing spouses die without having to spend huge sums of money to pay down the mortgage loan balance, an obstacle to a humane resolution of the non-borrowing spouses’ displacement crisis.

A new policy released on Friday, June 12, 2015 removed two harsh conditions in a now revoked policy that we strongly objected to on this blog. We are grateful to God for this sweet victory!

[National Mortgage Professional Magazine]

image: Money.CNN.com

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