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Can a reverse mortgage ever be foreclosed?

My brother who is in his late 70's went through the reverse mortgage process several years earlier. He has resently received notice of foreclosure.
By wnokes395 from TN Aug 11th 2014
Reply

If taxes and insurance have not been paid, that could result in a foreclosure on a reverse mortgage.

Aug 11th 2014

What is the reason for the foreclosure notice?If he didn't pay the RE Taxes or homeowners insurance that could cause a problem. I teach classes on reverse mortgages, call for details. 216 337 7520

Aug 11th 2014

The only reason I could see a foreclosure would be if he hasn't kept up with paying his property taxes or maintaining home insurance on the property.

Aug 11th 2014

Perhaps he did not pay the RE Taxes or so forth. However, if he gets the right set of eyes on the matter, they may be able to help him turn things around. I am available if he needs assistance. Thanks for your question?

Aug 11th 2014

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