2019-12-22 — usatoday.com
Even heirs who want to pay off reverse mortgages to hold onto a family home, and have the means to do so, can find themselves stymied by a seemingly endless cycle of conflicting messages that stretch out for years.
That's according to some of the more than 100 tips and letters received by USA TODAY following its probe into a surge in reverse mortgage foreclosures issued just after the recession.
Most issues can be traced back to faulty loan servicing with an often-revolving cast of loan companies -- the administrative duties of what should be routine disbursements, interest calculations and communications with borrowers or heirs, said Sarah Bolling Mancini, an attorney with the National Consumer Law Center.
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