Digtriad-

In 2007, a knock at Barbara Freeman front door, came with a great opportunity: to be debt free and take care of her sick husband.

This year, another knock at that same door was a sheriff’s deputy serving foreclosure papers and that’s when her nightmare began.

The widow is now at the brink of losing everything she and her husband worked for all because of a reversed mortgage. In the most simplified terms, reverse mortgages differ from “regular mortgages” because in the latter, a homeowner makes monthly payments to a lender.

But in a reverse mortgage, a homeowner borrows against their home equity which means a lender pays (s)he either a lump sum or monthly while the homeowner pays nothing.

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