Reverse Mortgage and Foreclosures are going together.

 AARP, representing seniors, filed a lawsuit against the Department of Housing and Urban Development saying that HUD’s policy changes with reverse mortgages have move more senior home owners into foreclosure..

The lawsuit centers on where only one spouse signed the loan document. The AARP argues that HUD’s policy changed late 2008 has caused surviving spouses who are not named on the mortgage to be required to pay the full loan balance in order to stay in the home, even when the property is underwater.

My feeling is that ''HUD has illegally and without notice changed the rules in the middle of the game at the expense of vulnerable older people. This is not right and unfair to the surviving spouse. For more information go to: http://bit.ly/fkvpBp