September 6, 2018 / 12:05 AM / in 8 months

HUD law no help to surviving spouse in reverse-mortgage foreclosure – 11th Circuit

A reverse-mortgage lender can foreclose after the death of the borrower even if the mortgage was HUD-insured, and therefore, should have included protections for the surviving spouse, a federal appeals court held on Wednesday.

A unanimous panel of the 11th U.S. Circuit Court of Appeals affirmed a ruling that allowed Richmond, Virginia-based Live Well Financial Inc to foreclose on a reverse mortgage that former Philadelphia 76er Caldwell “Pops” Jones Jr had obtained on his home in Georgia just two months before his death in 2014.

To read the full story on Westlaw Practitioner Insights, click here:

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