Homeownership & Foreclosure

Reverse Mortgages

Reverse mortgages are designed to allow older homeowners to access their home equity without the risk of displacement from an unaffordable mortgage. Yet poor oversight of the servicing of these FHA-insured loans has resulted in older homeowners losing their homes to foreclosure at an alarming rate. NCLC promotes policy reforms and supports advocates who represent reverse mortgage borrowers.

Featured

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NCLC Petition for Reg X Rulemaking on HELOCs, Reverse Mortgages, Language Access, and Manufactured Housing

August 29, 2023

The Wall Street Journal: Zombie Mortgages Could Force Some Homeowners Into Foreclosure

June 4, 2023

NCLC Senior Attorney Sarah Bolling Mancini Appointed to CFPB Consumer Advisory Board

March 1, 2023

Reverse Mortgage Daily: “NCLC reverse mortgage report highlights servicing issues”

February 7, 2023

Unmet Promise: Reverse Mortgage Servicing Challenges and How to Preserve Housing Stability for Older Adults

February 6, 2023

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

Joint Letter from NCLC and NRMLA to HUD Regarding Reverse Mortgage Foreclosures

September 17, 2022

Letter to FHA Regarding Clarifying the HAF Foreclosure Pause for Reverse Mortgage Borrowers

May 17, 2022

Reverse Mortgage Podcast: NCLC Attorney Sarah Bolling Mancini

March 30, 2022

Comments & Letters

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Comments Regarding New York City’s 2023 Proposed Amendments to Rules Related to Debt Collectors

November 29, 2023

Letter Opposing Rep. Steil Earned Wage Advance Bill

November 28, 2023

Letter to President Biden and CFPB Supporting Lower Credit Card Late Fees

November 28, 2023

Comments to Calif. DFPI on Revised Earned Wage Advance Regulations

November 27, 2023

Comments of Over 100 Organizations Supporting the Petition for Rulemaking to Require Meaningful Consumer Consent to Arbitration

November 14, 2023

Comments to CFPB’s Outline of Proposals for FCRA Rulemaking

November 9, 2023

Comments to the MD PSC in Support of the MD Office of People’s Counsel’s Petition Re Comprehensive Gas Planning

October 24, 2023

Letter Urging Bridge Funding on Low Income Household Water Assistance Program (LIHWAP)

October 18, 2023

Comments in Response to the U.S. Department of Education’s Proposed Income-Driven Repayment Plan (IDR) Request Form

October 10, 2023

Reports

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Unmet Promise: Reverse Mortgage Servicing Challenges and How to Preserve Housing Stability for Older Adults

February 6, 2023

Issue Briefs

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FAQ: Homeowner Assistance Funds and Reverse Mortgages

March 1, 2022

HUD Should Provide Additional COVID Loss Mitigation Options for HECM Borrowers

August 5, 2021

Using the Homeowner Assistance Fund to Prevent Reverse Mortgage Foreclosures: What Treasury and the States Can Do

April 1, 2021

Assisting Homeowners with Reverse Mortgages after a Natural Disaster: A Guide for Advocates

October 1, 2018

Recommendations to Improve Servicing and Reduce Foreclosures of Federal Reverse Mortgages

Testimony

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Press Releases & News

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The Wall Street Journal: Zombie Mortgages Could Force Some Homeowners Into Foreclosure

June 4, 2023

NCLC Senior Attorney Sarah Bolling Mancini Appointed to CFPB Consumer Advisory Board

March 1, 2023

Reverse Mortgage Daily: “NCLC reverse mortgage report highlights servicing issues”

February 7, 2023

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

Reverse Mortgage Podcast: NCLC Attorney Sarah Bolling Mancini

March 30, 2022

Advocates Applaud HUD’s Actions to Protect Vulnerable Widows and Widowers and Prevent Avoidable Foreclosures

May 12, 2021

Advocates: HUD Must Do Much More to Protect Older Reverse Mortgage Borrowers in the Coronavirus Epidemic

March 24, 2020

In the Wake of HUD Major Policy Change on Non-Borrowing Spouses, NCLC Attorney to Testify Before U.S. House on Risks to Elders from Reverse Mortgage Abuses

September 24, 2019

A Reverse Mortgage Primer

May 24, 2018

From the NCLC Digital Library

Mortgage Lending

NCLC’s treatise on loan origination, preemption, and litigation, with details on reverse mortgages, land installment contracts, HELOCs, home equity sharing, and other non-traditional mortgages.

Read Chapter One

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