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:

  1. Suitable, safe and smart for elderly consumers. 
  2. Sustainable and stable for the MMI Fund. 
  3. Reduce foreclosures (minimize loss of home for the consumer and eliminate the loss to the MMI Fund)

Meet Sandy

Sandy Jolley    CAARMA

Sandy Jolley


  • 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

We invite you to take action on this important issue

  1. Contact CAARMA at (805) 402-3066 to learn more about what can be done to correct this unacceptable situation. 
  2. Visit Elder Financial for helpful resources.    
  3. Invite Sandy to speak to your committee, organization or constituents, or to interview her for your publication or broadcast.