Reverse mortgages provide older homeowners with the resources to “age in place” and pay for essential living expenses. Yet, an increasing number of borrowers with federally-insured Home Equity Conversion Mortgages (HECMs) and their surviving spouses are facing foreclosure or other disruption. The U.S. Department of Housing and Urban Development (HUD) significantly revised its program guidelines recently to allow surviving non-borrowing spouses to remain at home after the borrower on a reverse mortgage dies.

This program will discuss these changes and loss mitigation options for borrowers facing foreclosure due to property charge default and will provide other updates on the HECM program. This Legal Basics training is for advocates familiar with HECM reverse mortgages. The program will focus on updating and highlighting recent developments.

Presenters:

• Sarah Bolling Mancini, National Consumer Law Center

• Odette Williamson, National Consumer Law Center

Closed captioning will be available on this webcast. A link with access to the captions will be shared through GoToWebinar’s chat box shortly before the webcast start time. This training will be presented in a WEBCAST format to accommodate more participants. Due to the high volume of participants, computer audio will be the only option to listen to the presentation. No telephone call-in number will be provided. Please plan accordingly. Thank you.

This webcast will be recorded and available on our website shortly after the presentation. The recording and training materials will also be emailed to all registrants within a few days after the training. The webcast will take place on Wednesday, February 26, 2020 at 11:00 a.m. PT/2:00 p.m. ET.