Relevant:
- Mortgage Catch Pushes Widows Into Foreclosure
- AARP sues Wells Fargo, Fannie Mae over reverse mortgage foreclosure
- Feds Reneged on Loan Promises, Reverse-Mortgage Lawsuit Claims
- HECM Rules Allow Spouses Of Reverse Mortgage Borrowers To Remain In The Home
- As Complaints Increase, HUD to Address HECM Non-Borrowing Spouse Issue
2013-02-02 — therealdeal.com
``But under a controversial policy that is drawing national scrutiny and at least one major lawsuit, HUD -- the agency that runs the reverse mortgage program -- insists that when a spouse dies, and the surviving spouse's name is not on the loan documents, the full mortgage balance becomes due and payable. If a relative or the surviving spouse cannot purchase the house and pay off the debt, the loan may be subject to a foreclosure sale.''
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