Hurricane fallout creates financial ruin for Puerto Rico’s seniors with reverse mortgages

by Victoria Mba-Jonas | Jan 6, 2021 | 0 comments

SAN JUAN – Reverse mortgages are failing at nearly double the U.S. national average in Puerto Rico, a problem magnified on the island by sliding property values, lenders’ responses after natural disasters and unique challenges ranging from spotty mail...

More seniors are taking loans against their homes — and it’s costing them (Washington Post)

by McGraw Center | Nov 17, 2017 | 0 comments

As she was getting on in years and her resources dwindled, Virginia Rayford took out a special kind of mortgage in 2008 that she hoped would help her stay in her three-bedroom Washington rowhouse for the rest of her life. Rayford, 92, took advantage of a federally...

Foreclosures on the rise for seniors with reverse mortgages (NECIR Version)

by McGraw Center | Nov 17, 2017 | 0 comments

As she was getting on in years and her resources dwindled, Virginia Rayford took out a special kind of mortgage in 2008 that she hoped would help her stay in her three-bedroom Washington rowhouse for the rest of her life. Rayford, 92, took advantage of a federally...