[cuban leaf]

In all seriousness. This stuff is really just barely getting started. I’d lash myself to the mainsail mast if I wanted to survive.

[DannyTN]

If a reverse mortgage company defaults, shouldn’t you get to keep the house? Regardless of what they’ve paid you.

[Red Badger]

Reverse Mortgage?....................what could possibly go wrong?.................

[Avalon Memories]

I’m not knowledgeable about mortgage company operations, but wonder if anyone here can answer a basic question. What happens to your existing mortgage in a situation like this? Could this be a way of mortgage companies forcing people with low interest rate mortgages into new loans with higher rates? We bought our home two years ago at a very favorable interest rate of 2.99%. It is a VA backed loan.

[dragonblustar]

These types of companies preyed on seniors.

[moovova]

Tom Selleck and Henry Winkler hit hardest.

[bitt]

p

[Don Corleone]

“Not their first rodeo?”

[unclebankster]

There will most likely be a few more of these companies going belly up.

They’re a dime a dozen.

[Honest Nigerian]

So how does one file a reverse bankruptcy?
Seems like that is the thing they should have done.

[Fido969]

The reverse mortgage racket is a house of cards.

[higgmeister]

Reverse Mortgage Funding would have assets in homes that have lost value and cannot be sold at any price.   I always had this feeling that a reverse mortgage was a little bit fishy.   Now it turns out to be a flawed business plan.

[MV=PY]

I think “mortgage companies” and “reverse mortgage companies” have two entirely different business models.

The headline is misleading.