Reverse Mortgage Foreclosure Statistics
Do you know 50% of surviving non-borrowing spouses will not be able to stay in their home after the borrowing spouse dies?
Do you know 18% or 90,000 of all borrowers are in default for non-payment of taxes and insurance?
Did you know thousands and thousands of heirs are prevented from satisfying the reverse mortgage loan?
Did you know the MMI Fund is $14.5 Billion in the red?
If nothing changes, 100,000 Consumers will lose their homes to foreclosure over the next year. (25% of all reverse mortgages)
Do you want good news?
This is completely preventable and reversible. The HECM Program "must" be fixed and "can" be fixed.
CAARMA a new 501(c)(3), has a straightforward plan that will TRANSFORM the HECM Program so it is:
- Suitable, safe and smart for elderly consumers.
- Sustainable and stable for the MMI Fund.
- Reduce foreclosures (minimize loss of home for the consumer and eliminate the loss to the MMI Fund)
Featured in the Full-length documentary "Last Will and Embezzlement"
Interviewed on ABC, CBS, MSNBC, CNN, Bloomberg, Reveal, The Center for Investigative Reporting, etc.
Jill Schlesinger, "Jill on Money" show interview
FIRREA Whistleblower Award – Settlement with Financial Freedom/CIT announced by Department of Justice 5/16/2017
Consumer Advocate and Consultant 12 years – helped hundreds of consumers understand and exercise their rights and avoid foreclosure