This letter asks HUD to expand eligibility requirements for the partial claim to borrowers who have quickly recovered from their hardship.
Read More about Joint Letter to HUD Regarding Partial Claim Eligibility
The National Consumer Law Center urges the Bureau to modify the mortgage servicing rules in Regulation X, 12 C.F.R. Part 1024, to provide consistent, fair, and transparent protections to borrowers across the mortgage market. NCLC requests that the Bureau remove the HELOC exemption from Regulation X sub-part C; remove the reverse mortgage exemption from Regulation…
NCLC, on behalf of its low-income clients, submitted the below comments on the draft of the HECM Handbook, Section 4000.1. The reverse mortgage program was created by Congress to allow older homeowners to tap into their home equity without increasing the risk of displacement. In implementing the program, HUD is tasked with a dual mission…
States Can Take Steps to Prevent Property Tax Foreclosures and Preserve Homeownership and Transfer of Intergenerational Wealth BOSTON – A new report from the National Consumer Law Center (NCLC) looks at the unique issues heirs face when inheriting a home with an overdue property tax bill and the disproportionate impact on Black and Latino wealth…
Homeowners who fall behind on their property taxes risk the swift loss of their homes through tax foreclosures if they cannot pay off the back taxes owed, plus any interest, fees, costs and penalties thathave accrued. The accumulated amounts needed to resolve the tax debt can be overwhelming and resultultimately in the loss of their…
Read More about Heirs Should Not Be Subject to Florida's Homestead Tax Exemption Penalty
Many states will be re-writing their property tax foreclosure laws in the wake of the Supreme Court’s decision in Tyler v. Hennepin County. This opens up a window of opportunity to broadly improve property tax systems. One of the most important ways to prevent tax foreclosure is to ensure that low-income and older homeowners have access…
Watch Recording Read More about Policy Change to Prevent Property Tax Foreclosures: Reducing Tax Burdens, Promoting Racial Equity, and Protecting Older Adults
