Skip to content

Reverse mortgage (HECM) ƒe fexexe, aƒea me nɔnɔ ŋuti numekuku, kple srɔ̃tɔ siwo medo ga o ƒe gomenɔamesiwo

Xexlẽme kpatawo toa vovo le dukɔ ɖesiaɖe me. Axa sia zã 911, si nye xexlẽdzesi na United States kple Canada. Dukɔ bubu geɖewo zãa 112, 999, alo xexlẽdzesi bubu. Di xexlẽdzesi si le miaƒe dukɔa me.

"Due and Payable" Acceleration Notice alo foreclosure ŋɔdzidoname xɔxɔ le dziɖuɖua ƒe nugblẽfexeɖoɖo Home Equity Conversion Mortgage (HECM) alo proprietary reverse mortgage dzi nye xaxa dziŋɔ aɖe na aƒetɔ tsitsi aɖe, Srɔ̃tɔ si medo ga o (NBS) si tsi agbe, alo ɖevi tsitsi siwo le dzila ƒe nunɔamesiwo gbɔ kpɔm. Esi wodzra aƒe ƒe fe siwo wogbugbɔ do ɖe megbe be wonye "aƒe ƒe fexexe aɖeke ɣleti sia ɣleti o" ta la, zi geɖe la, wogbãa ŋku na fenyilawo kple ƒomewo ne wova nya be aƒe ƒe fetu si wogbugbɔ do ƒe dɔwɔƒe (abe PHH Mortgage / Celink, Longbridge Financial, Finance of America Reverse, alo HUD/Novad) ate ŋu ayɔ fefe bliboa si susɔ enumake si wòle be wòaxe eye wòaxee eye wòadze fexexe gɔme wu ene fexexe manɔmee hea: (1) megbedede le nunɔamesiwo ƒe adzɔwo, aƒetɔwo ƒe nugblẽfexeɖoɖo, alo HOA ƒe fewo ("Adzɔ kple Nugblẽfexeɖoɖo / T&I Default"), (2) ƒe sia ƒe ƒe Aƒenɔƒe ƒe Ðaseɖigbalẽ ƒe tɔtrɔgbɔ alo ɣleti geɖe nɔnɔ le kɔdzi/ɖɔɖɔɖodɔwɔƒe, (3) aƒea ƒe nɔnɔme ŋutɔŋutɔ me léle ɖe asi, alo (4) aƒea srɔ̃tɔ si do ga la ƒe ku.

Togbɔ be dɔdzikpɔlawo ƒe lɛta siwo me dziku le be woaxe fe bliboa le ŋkeke 30 me hã la, dukɔa ƒe Aƒewo Kple Dugãwo ƒe Ŋgɔyiyi Dɔwɔƒe (HUD) ƒe sededewo (24 C.F.R. Akpa 206 kple HUD Single Family Housing Policy Handbook 4000.1) kpɔa ame tsitsiwo, srɔ̃tɔ siwo tsi agbe, kple domenyilawo ta vevie. Le nusi aʋã wò nu la, àte ŋu atɔ te fexɔ le ame si to Ɣleti 60 ƒe HUD si le Afɔku me ƒe kekeɖenudɔ (na fenyila siwo xɔ ƒe 80+ siwo si lãmesẽnyawo ƒe hiahiã veviwo le), Ɣleti 60 ƒe HECM ƒe Fexexe ƒe Ðoɖo, Ɣleti 60 ƒe HECM ƒe Fexexe ƒe Ðoɖo, Ɣeyiɣi si Wohe Ðe Edzi na Srɔ̃tɔ si Dze Si Medoa Fe O (ne ʋɔnudrɔ̃ƒe si wotsɔ ɖo kpe edzi le wò ŋkɔ me le HUD te o gɔ̃ hã Mortgagee Letter 2021-11), alo Domenyilawo ƒe 95 le alafa me ƒe Fexexe si me womezãa ga le o si me HUD kekeɖenudɔ le wo ɖokui si va ɖo ɣleti 12.

Wɔ esia fifia

  1. De dzesi nusi tututu aʋã ame si wota ɖe "Due and Payable Notice" dzi enumake: Kpɔ dɔwɔƒea ƒe lɛtaa tame be nàkpɔ aɖaka etɔ̃awo dometɔ si ŋu wode dzesii: (A) Tax and/alo Hazard Insurance Default (Corporate Advance), (B) Non-Occupancy / Failure to Certify Principal Residence, alo (C) Dodola Mamlɛtɔ si Tsi Agbe ƒe Ku. HUD ƒe nubuname dzi ɖeɖe kpɔtɔ ƒe atikewɔwɔ ƒe ɣeyiɣiɖoɖo kple agbalẽwo ƒe agbalẽvi si to vovo kura le nusi ʋãa nu ɖesiaɖe ŋu.
  2. Da "Occupancy Default" le gaƒoƒo 24 me nenye be amesi do ga la gakpɔtɔ le aƒea me (alo enɔ rehab/care facility me mede ɣleti 12 o tsiã ɖe enu): Woyɔa aƒe ƒe fetu akpe geɖe siwo wogbugbɔ xena la vodadatɔe be Due and Payable ƒe sia ƒe le esi fenyila tsitsi aɖe to ƒe sia ƒe ƒe Occupancy Certification postcard si le posu me alo nɔ kɔdzi alo dɔnɔdzikpɔla bibiwo ƒe dɔwɔƒe ɣleti 3. Le 24 ƒe C.F.R. § 206.39 kple § 206.27©, ɣeyiɣi kpui aɖe ƒe dɔmawɔmawɔ hena atikewɔwɔ alo ɖɔɖɔɖo vaseɖe ɣleti 12 tsiã ɖe enu MEDA le nɔƒe vevitɔ ƒe nudidi dzi o. Enumake de asi Ƒe Sia Ƒe ƒe Amewo ƒe Ðaseɖigbalẽvi te eye nàɖoe ɖe fax/email tsɔ kpe ɖe nuzazãwo ƒe fe eve siwo li fifia (elektrik, tsi, alo gas) kple atikewɔla ƒe nuŋlɔɖi si ɖo kpe edzi be amesi do ga la le aƒea me alo atrɔ ava do ŋgɔ na ɣleti 12 ƒe dzesia.
  3. Bia "At-Risk Extension" (Borrower Age 80+ with Health Hardship) alo "60-Month Repayment Plan" na Adzɔxexe kple Nugblẽfexeɖoɖo ƒe Fexexe ƒe Ðoɖo: Ne dɔwɔƒea do ga do ŋgɔ be yeatsɔ axe nunɔamesiwo ƒe adzɔ siwo tsi megbe alo aƒetɔwo ƒe nugblẽfexeɖoɖo ("Corporate Advance"), mègana woaxɔ ga le ame si o. Le HUD ƒe Mɔfiamegbalẽ 4000.1 nu la, ne fedola suetɔ xɔ ƒe 80 alo esi wu nenema eye lãmesẽkuxi sesẽ aɖe le esi (si ŋu ɖɔkta ɖo kpee) si xe mɔ na ʋuʋu la, dɔwɔƒea ate ŋu abia be woawɔ Ɣleti 12 ƒe HUD "At-Risk Extension" si woate ŋu agbugbɔ awɔ yeyee si atɔ te fexexe keŋkeŋ. Le fenyila bubuawo katã gome la, bia Ganyawo Ŋuti Numekuku & Ɣleti 12-vaseɖe-60-Ɣleti HECM Fexexe ƒe Ðoɖo (afisi nèxea wò ɣleti sia ɣleti ƒe "Ga si susɔ" ƒe 25% ko ɖe megbe adzɔwo/nugblẽfexeɖoɖoa ŋu), alo nàbia ne wò dukɔa gakpɔtɔ le Aƒetɔ Kpekpeɖeŋunaga (HAF) ƒe gakpekpeɖeŋu alo Nunɔamesi ƒe Adzɔ si le ʋuʋu ɖi Heheɖemegbe ƒe ɖoɖowɔɖi.
  4. Ðo kpe wò "Eligible Non-Borrowing Spouse (NBS) Deferral Period" dzi enumake ne srɔ̃wò si do ga la ku: Ne srɔ̃wò ɖeka koe woŋlɔ be "Borrower" le HECM ƒe nuŋlɔɖi me (zi geɖe le esi mèxɔ ƒe 62 haɖe o esime fedodoa tu) eye srɔ̃wò ku teti koe nye ema la, mehiã be nàʋu alo axe fe la loan ne èɖe srɔ̃ le ɣeyiɣi si me wotu gadodoa, èkpɔtɔ nye srɔ̃tɔ vaseɖe woƒe kugbe, woɖe wò ɖe go le gadodo ŋuti nuŋlɔɖiwo me (na August 4, 2014 megbe Nya Xexlẽdzesiwo, alo nèdze le HUD ƒe kekeɖenudɔwɔwɔ Mortgagee Optional Election / MOE te na gadodo do ŋgɔ na August 4, 2014), eye nèxɔ aƒea abe wò nɔƒe vevitɔ ene. Le HUD Mortgagee Letter 2021-11 te la, HUD ɖe nudidi si ɖa be Srɔ̃tɔ si tsi agbe si medo ga o naɖo kpe se ƒe gomenɔamesi alo domenyinu ƒe agbalẽ si woate ŋu adzra dzi le ŋkeke 90 me, ɖeko wòle be nàyi edzi anɔ aƒea me eye nànɔ nu yeye siwo nàxe ɖe nunɔamesiwo ƒe adzɔwo kple nugblẽfexeɖoɖowo ŋu le etsɔme ŋu.
  5. Ðo "Domenyilawo ƒe Tameɖoɖo Ŋuti Nyatakaka" si woŋlɔ ɖi le ŋkeke 30 me tso esime fedola ku be woatsɔ axe Ɣleti 6 + Ŋkeke 90 Eve (Ɣleti 12 ƒe Kpekpeɖeŋunana) KPLE 95% ƒe Sea: Ne dzila eveawo siaa ku eye wòe nye domenyila/amewula la, ke ɣleti 6 gbãtɔ le asiwò tso ŋkeke si dzi wòku, tsɔ kpe ɖe eve ŋu Ŋkeke 90 ƒe HUD kekeɖenudɔ (wo katã va ɖo ɣleti 12), be woadzra aƒea alo agbugbɔ ga axe nɛ. Eye esi nyo wue nye be, ne aƒe si wogbugbɔ do la nye "tsi te" (le kpɔɖeŋu me, ga si wodo la dzi ɖe edzi va ɖo dɔlar 350,000, gake aƒea ƒe home nye dɔlar 260,000 ko), dukɔa ƒe sedede (24 C.F.R. § 206.125(a)(2) kple § 206.107) naa domenyilawo kpɔa gome bliboe be lé ƒomea ƒe aƒea ɖe te alo dzrae to fexexe na LESSER si nye (a) ga si susɔ bliboa, alo (b) asixɔxɔ si sɔ si HUD bu fifia ƒe alafa memama 95 ($247,000), eye FHA ƒe nugblẽfexeɖoɖo atutu fe si susɔ si nye $103,000 ɖa tegbee.
  6. Do ka kple HECM ƒe Aɖaŋuɖola si dzi HUD Da asi ɖo (1-800-569-4287) eye nàkpɔ ame tsitsi siwo le afima ƒe dedienɔnɔ ta: Ƒo ka na HUD ƒe aƒewo ŋuti aɖaŋuɖoha si dziɖuɖua da asi ɖo le ** .1-800-569-4287** eye nàbia HUD-Certified HECM Default Counselor koŋ (femaxee). Ne nunɔamesiwo takpɔkpɔ ƒe kontraktɔ aɖe si dɔwɔƒe aɖe haya dze agbagba madzemadzee be yeatsɔ ga abla aƒe si me ame le, atɔ elektrikŋusẽnamɔ̃wo, alo aɖe nunɔamesi siwo didi tso aƒe si me ame le gbɔ meta 5 (afɔ 16) ɖa la, ƒo ka na wò nutoa me xexlẽdzesi kpata (911 le United States kple Canada, 112 le EU, 999 le UK) alo kpɔ míaƒe... xexlẽdzesi siwo wozãna kpata directory me enumake.

--- .

Nyametsotsoti: Nutɔtrɔ le aƒe ƒe fetu si wogbugbɔ xɔ le ame si ŋu le ƒomevi si woɖo ɖi nu

De dzesi alɔdzedɔwɔƒe si ku ɖe wò aƒe ƒe fetu si wogbugbɔ xe ƒe kuxia ŋu eye nàwɔ HUD ƒe ametakpɔnu si sɔ kplii la enumake.

flowchart TD
    A["Xɔ HECM ƒe ‘Due and Payable’ alo Xɔxɔ ƒe Nyatakaka"] --> B{"Nukae He Default la vɛ?"}
    B -->|"1. Nuwo ƒe Adzɔ, Aƒetɔwo ƒe Nugblẽfexeɖoɖo, alo HOA Default (T&I) ."| C{"Fe nenie Nye Fe & Ƒe si Dodola Xɔ?"}
    C -->|"Fe Siwo Woxe Katã Si Mede Dɔlar 5,000 O"| D["Ele be Servicer Nahe Foreclosure Referral (De Minimis Threshold) Hehe Ðe Edzi Esi Nèle Dɔ Dam"]
    C -->|"Ðevitɔ Dola Ƒe 80+ kple Atikewɔwɔ ƒe Nɔnɔme Sesẽ"| E["Miɖo Ðɔkta ƒe Lɛta ɖa na HUD ‘At-Risk Extension’ (Etɔa Nuwo Xɔxɔ le Ame Si Le Ƒe 1 ƒe Dzidziɖedziwo Me)"]
    C -->|"Dodola Bubuwo Katã"| F["Bia HECM ƒe Ɣleti 12 va ɖo 60 ƒe Fexexe ƒe Ðoɖo (25% le Gakpɔkpɔ si Susɔ me) + Dukɔa ƒe Adzɔxexe ƒe Heheɖemegbe"]
    B -->|"2. Amewo ƒe Aƒewo Ŋuti Numekuku / Atikewɔwɔ me Dɔmawɔmawɔ"| G{"Ðe Dodola Le Adzɔge >Ɣleti 12 Tsiã Ðe Enua?"}
    G -->|"Ao (Egakpɔtɔ le Aƒeme ALOO le Kɔdzi/Rehab <Ɣleti 12)"| H["Miɖo Anyigbamama ƒe Ðaseɖigbalẽ Si Wode Asi + Te + Dɔwɔfetu 2 + Ðɔkta ƒe Nyatakaka (Gbugbɔgaɖoanyi Enumake) ."]
    G -->|"Ẽ (Tegbee le Ame Tsitsiwo ƒe Aƒeme >Ɣleti 12) & Ao Co-Borrower"| I["Trɔtrɔ yi Srɔ̃tɔ si Medoa Ga O ƒe Heheɖemegbe ALOO Ƒome 95% Dzadzra/Gbugbɔgadzɔ"]
    B -->|"3. Srɔ̃tɔ si Do Ga la ƒe Ku"| J{"Amekawoe Gakpɔtɔ Le Aƒea Me?"}
    J -->|"Srɔ̃tɔ Si Medoa Ga O si Tsi Agbe (NBS) ."| K["Yɔ HUD ƒe Heheɖemegbe Ɣeyiɣi (Post-8/4/2014) alo MOE Dɔdasi (Do ŋgɔ na 8/4/2014) le ML 2021-11 te"]
    J -->|"Vi Tsitsiwo / Domenyilawo / Domenyinu"| L["File Nuŋlɔɖi ƒe Nyatakaka tso Tameɖoɖo Ŋu le Ŋkeke 30 me -> Lock In 6 Months + Eve 90-Day Extensions + 95% Fexexe ƒe Se"]

--- .

Ametakpɔkpɔ 1: Dada na "Adzɔ kple Nugblẽfexeɖoɖo (T&I)" Default evɔ aƒea mebu o

Ne aƒedola si do ga si wogbugbɔ do la do kpo nutome ƒe nunɔamesiwo ƒe adzɔ xexe alo ɖe mɔ na woƒe aƒetɔwo ƒe nugblẽfexeɖoɖoa wu enu (kpɔ míaƒe... aƒetɔwo ƒe nugblẽfexeɖoɖo mawɔmawɔ yeyee kple mɔfiala si wozi ɖe ame dzi), HUD ƒe sewo bia tso dɔwɔƒe si kpɔa dɔwɔƒea si be wòado dɔwɔƒea ƒe ga ɖe ŋgɔ atsɔ axe adzɔxɔla alo aƒle nugblẽfexeɖoɖo, eye emegbe wòaɖe gbeƒã aƒe si wogbugbɔ xɔ la le Adzɔ kple Nugblẽfexeɖoɖo (T&I) Default me.

Hafi dɔwɔƒea nate ŋu atsɔ HECM ƒe gadodo ayi na senyala si xɔa ga le ame si le se nu ɖe T&I ƒe gadodo ta la, HUD ƒe Mɔfiamegbalẽ 4000.1 (Akpa III.A.3) naa akpoxɔnu atɔ̃ tɔxɛ siwo woatsɔ aɖe nusiwo bu dzi akpɔtɔ la wò:

HUD ƒe Nusiwo Bu-Ðeɖe Ðe Edzi ƒe Akpoxɔnu Amekae Dze? Alesi Wòtɔa te Nuwo Xɔxɔ le Ame Si
1. $5,000 ƒe "De Minimis" ƒe Fexexe ƒe Dzidzenu HECM fenyila ɖesiaɖe si ƒe dɔwɔƒe ƒe gadodo siwo katã womexe o na nunɔamesiwo ƒe adzɔwo kple afɔku ƒe nugblẽfexeɖoɖowo mede $5,000 o** (dzidzenu si wowɔ yeyee le HUD ƒe ɖoɖoa te). Zi alesi wò T&I fe bliboa le dzidzenua te eye nèɖee fia be yelɔ̃ be yeaxee ko la, woɖe mɔ na dɔwɔƒea be wòahe gadodoa yɔyɔ ɖe megbe be Doe kple Payable esime wòle fexexe ƒe ɖoɖo aɖe wɔm.
2. HECM ƒe Fexexe ƒe Ðoɖo (Ɣleti 12 va ɖo 60) Dola ɖesiaɖe si si "Ga si sɔ gbɔ wu" le ɣleti sia ɣleti le esi wòɖe agbenɔnɔ ŋuti gazazã siwo hiã (nuɖuɖu, nuzazãwo, atikewɔwɔ) ɖa le Hadomegbenɔnɔ ƒe Dedienɔnɔ/dzudzɔxɔxɔledɔme ƒe fetu si wòkpɔna ɣleti sia ɣleti me vɔ megbe. Subɔsubɔha la bua wò Gakpɔkpɔ si sɔ gbɔ ɣleti sia ɣleti eye wòɖoa ga si nàxe ɣleti sia ɣleti si sɔ kple ** wò Ga si nèkpɔna ƒe alafa memama 25 lɔƒo**, eye wòmaa adzɔ siwo woxena ɖe megbe/nugblẽfexeɖoɖoa ɖe vaseɖe ɣleti 60 (ƒe 5) ɖe 0% deme bubu ɖe dɔwɔƒea ƒe ga si nèdo ŋgɔ dzi.
3. HUD "At-Risk Extension" (Ƒe 80+ Atikewɔwɔ ƒe Sesẽ) Ðevitɔ si do ga la xɔ ƒe 80 ya teti EYE atikewɔla si si mɔɖegbalẽ le ɖo kpe edzi be dɔléle si nu sẽ, ŋutilã me nuwɔametɔnyenye si nɔa anyi didi, alo nɔƒe tɔxɛ aɖe si hiãe (abe tagbɔdɔ alo ŋuɖoɖo ɖe aƒeme atikewɔnuwo ŋu ene) le amesi do ga (alo amesi do ga kplii) ŋu. Dɔwɔla la tsɔa ɖɔkta ƒe ɖaseɖigbalẽa ɖoa HUD, si naa Ƒe 1 ƒe Xɔxlɔ̃ ƒe Kekeɖenudɔwɔwɔ (si woate ŋu awɔ yeyee ƒe sia ƒe ƒe sia ƒe le amesi do ga la ƒe agbenɔƒe mamlɛa me), si atɔ te gaxɔ le ame si keŋkeŋ nenye be $0 Ga si sɔ gbɔ wu le amesi do ga la si eye mate ŋu axe fexexe ƒe ɖoɖo o gɔ̃ hã.
4. Re-Quoting Force-Placed Nugblẽfexeɖoɖo & Adzɔxexe si Wogbugbɔna Xɔna Dodola ɖesiaɖe si ƒe T&I ga si susɔ la dzi ɖe edzi to nugblẽfexeɖoɖo si do ga na ame dzizizitɔe si nye $5,000+ alo adzɔ si woɖe le ame tsitsi/nuwɔametɔwo ƒe nunɔamesiwo ƒe adzɔxexe si bu me. Wò ŋutɔ wò lɔlɔ̃nu faa aƒetɔwo ƒe ɖoɖo ƒle hea gagbugbɔ ga si nèxɔ le ŋusẽ me siwo katã ƒo ƒu ɖe wo nɔewo ŋu le ŋkeke 15 me (12 C.F.R. § 1024.37(g)), eye wò nutoa ƒe Dukɔmevi Tsitsi / Nuwɔametɔ Veteran Veteran Property Tax Exemption alo Tax Deferral biabia ate ŋu aɖe wò etsɔme adzɔxexe dzi akpɔtɔ va ɖo zero kloe.
5. Gagbugbɔɖoɖo ɖe HECM Yeye me kple "LESA" (Agbenɔƒe ƒe Mɔkpɔkpɔ Si Woɖo Ðe Asi) Dodola siwo ƒe aƒea ƒe asixɔxɔ dzi ɖe edzi ŋutɔ tso esime woxɔ ga si wogbugbɔ do le aƒea ƒe fe gbãtɔ. Ne wò aƒe ƒe gakpɔkpɔ dzi ɖe edzi la, àte ŋu agbugbɔ ga ana wòazu HECM yeye ("HECM-to-HECM Refinance") si xea T&I ƒe fe siwo tsi megbe le ewuwu me eye wòdzɔa ga na Agbenɔƒe ƒe Mɔkpɔkpɔ ƒe Ðoɖo-Aside (LESA), si nye automatic escrow bucket si xea wò etsɔme nunɔamesiwo ƒe adzɔwo kple nugblẽfexeɖoɖo le wò agbemeŋkekewo katã me.

--- .

Ametakpɔkpɔ 2: Agbetsitsi le "Occupancy Audit" alo Kɔdzi / Ame Tsitsiwo ƒe Aƒeme Nɔƒe si Wokeke Ðe Edzi me

Le 24 ƒe C.F.R. § 206.27©, aƒe ƒe fe si wogbugbɔ xe la gakpɔtɔ le nɔnɔme nyui me nenye be aƒea nye amesi do ga na ame ɖeka ya teti ƒe nɔƒe vevitɔ ko. Dɔdzikpɔlawo léa ŋku ɖe amesiwo le aƒea me ŋu ƒe sia ƒe (eye enumake ɣesiaɣi si wotrɔ posuwo vɛ be womate ŋu atsɔe ayi na wo o alo aƒelika aɖe ka nya ta be aƒea me dzena ɖoɖoezizi).

Se etɔ̃ siwo xea mɔ na "Non-Occupancy" foreclosure si mele se nu o

  1. Co-Borrower Rule (100% Protection Ne Srɔ̃tɔ Ðeka Ge Ðe Ame Tsitsiwo ƒe Aƒeme Tegbee gɔ̃ hã): Ne woŋlɔ srɔ̃ŋutsu kple srɔ̃nyɔnu wo ame evea siaa be Co-Borrowers le reverse mortgage dzi, eye srɔ̃ŋutsua ʋu yi memory-care alo skilled dɔnɔdzikpɔlawo ƒe dɔwɔƒe tegbee le eƒe agbemeŋkekewo katã me la, WOMAATE ŊU ayɔ fe la be Due and Payable zi alesi srɔ̃nyɔnua (Co-Borrower) yi edzi le aƒea me abe eƒe nɔƒe vevitɔ ene.
  2. Ɣleti 12 siwo kplɔ wo nɔewo ɖo le Atikewɔwɔ me Manɔmanɔ ƒe Se (Na Ame Ðeka Dodola): Ne ɖeka koe do ga la le gadodoa dzi (alo fedola evea siaa le dɔwɔƒe aɖe) la, woɖe mɔ na fenyilaa le se nu be wòaganɔ aƒea me le kɔdzi, ɖɔɖɔɖodɔwɔƒe, kpekpeɖeŋunaƒe, alo ƒometɔ ƒe aƒeme hena vaseɖe ɣleti 12 tsiã ɖe enu (ŋkeke 365) na ŋutilã alo tagbɔdɔ si mehe default vɛ o.
  3. Afɔɖeɖe Vevi Do Ŋgɔ Na Ɣleti 12: Ne amesi ko do ga la le tetem ɖe Ŋkeke 330 lia ŋu le ɖɔɖɔɖodɔwɔƒe la, tɔtrɔ yi aƒeme be yeanɔ aƒea me (kple aƒeme lãmesẽnyawo gbɔ kpɔkpɔ) hafi Ŋkeke 365 nagbugbɔ ɣleti 12 ƒe gaƒoɖokui aɖo, nenye be aƒea gakpɔtɔ nye woƒe nɔƒe vevitɔ vavã.
  4. Mègaŋe aɖaba ƒu Ƒe Sia Ƒe ƒe Aƒemenɔƒe ƒe Ðaseɖigbalẽ dzi gbeɖe o: Ƒe sia ƒe le wò gadodo ƒe nuwuwu ƒe ƒezã dzi la, dɔwɔƒea ɖoa axa 1 ƒe Dɔwɔƒe ƒe Ðaseɖigbalẽ ɖe amewo to posu dzi. Ne mède asi ete hetrɔe vɛ le ŋkeke 30 me o la, dɔwɔƒea ɖoa nuxlɔ̃amenya ɖe wò to posu dzi, edɔa agbledela aɖe ɖa be wòaƒo wò ʋɔa eye wòaɖe wò elektrik-mita ƒe foto tso mɔa ƒe akpa si woɖoe ɖo (wòaxɔa ga home si nye dɔlar 20 le wò fe si nèdo ta la ta, eye wòdzea Non-Occupancy Due and Payable biabia gɔme kple HUD. Trɔ Amewo ƒe Nɔƒe ƒe Ðaseɖigbalẽ si wode asi na la ɣesiaɣi to Certified Mail KPLE email/fax dzi, eye nàdzra eƒe kɔpi ɖo na wò faɛlwo.

--- .

Ametakpɔkpɔ 3: "Srɔ̃tɔ si Medoa Ga O (NBS)" si Tsi Agbe Takpɔkpɔ Le Dodola ƒe Ku megbe

Le ŋutinya me la, aƒe ƒe fexexe ƒe asitsalawo naa srɔ̃tɔwo kaa ɖe edzi enuenu be woaɖe srɔ̃tɔ suetɔ (vevietɔ srɔ̃tɔ si mexɔ ƒe 62 haɖe o) le aƒea ƒe ŋkɔ ŋu ale be srɔ̃tɔ tsitsia nate ŋu adze na aƒe ƒe fe si wogbugbɔ xe si lolo wu. Ne srɔ̃tɔ tsitsi si do ga la ku la, dɔwɔla siwo wɔa dɔ la xɔa ahosi alo ahosi si le nu xam ("Srɔ̃tɔ si medoa ga o") nublanuimakpɔmakpɔtɔe.

Le dukɔa ƒe nyaʋiʋliwo (Bennett v. Donovan kple Plunkett v. Castro) kple HUD ƒe ɖoɖowo ƒe ɖɔɖɔɖo gãwo megbe la, Srɔ̃tɔ siwo tsi agbe si medoa ga o la ƒe gomenɔamesi sẽŋuwo le dziɖuɖua si fifia be woanɔ woƒe aƒeme le woƒe agbemeŋkekewo katã me evɔ womaxe aƒe ƒe fewo ɣleti sia ɣleti o:

Alesi HUD Srɔ̃tɔ Si Medoa Ga O "Heheɖemegbe Ɣeyiɣi" wɔa dɔe

Eɖanye be srɔ̃wò ƒe aƒe ƒe fe si wogbugbɔ xɔ la dzɔ le August 4, 2014 dzi alo le ema megbe (FHA Case Number si wode asi na le/le 08/04/2014 megbe, si dzi 24 C.F.R. § 206.55 kpɔ ŋusẽ ɖo) alo do ŋgɔ na August 4, 2014 (si dzi HUD's kpɔ ŋusẽ ɖo Aƒetɔ ƒe Tiatia / MOE Dɔdasi ƒe sewo le HUD Aƒexɔla ƒe Lɛta 2019-15 kple 2021-11 te), èdze be yeahe aƒea xɔxlɔ̃ ɖe megbe le wò agbemeŋkekewo katã me abe Srɔ̃tɔ si Dze Si Medoa Ga O ene ne èɖo nudidi siawo gbɔ:

  1. Èɖe srɔ̃ le Nuwuwu Kple Le Kuɣi: Èɖe srɔ̃ kple amesi do ga la le se nu le ɣeyiɣi si me wotu aƒea ƒe fe si wogbugbɔ xe (alo nèƒo ɖokuiwò ɖe vidzinu ɖeka tɔgbe tɔwo ƒe ƒomedodo si me nètsɔ ɖokuiwò na me esime se xe mɔ na wò be màɖe srɔ̃ o, eye emegbe nèɖe srɔ̃ le se nu hafi amesi do ga la ku) eye nènɔ srɔ̃ ɖem vaseɖe esime amesi do ga la ku;
  2. Nunɔƒe Vevitɔ: Èle aƒe si wodo ga na la me fifia, eye nènɔ anyi le ɣeyiɣi si me amesi do ga la ku abe wò nɔƒe vevitɔ ene;
  3. Megahiã Be Woaɖo Kpe Se ƒe Ŋkɔnyenye Dzi Le Ŋkeke 90 Me O (HUD Mortgagee Letter 2021-11 Breakthrough): Do ŋgɔ na May 2021 la, dɔwɔla siwo xɔa ahosi akpe geɖe le wo si elabena domenyinumãgbalẽ ƒe ʋɔnudrɔ̃ƒe xɔ ɣeyiɣi didi wu ŋkeke 90 hafi wotsɔ aƒea ƒe agbalẽa de ahosia ƒe ŋkɔ me. Le HUD Mortgagee Letter 2021-11 te la, HUD ɖe nudidi si ɖa tegbee be Srɔ̃tɔ si medo ga o si tsi agbe naɖo kpe gomenɔamesi si woate ŋu adzra alo gomenɔamesi si le se nu dzi be wòanɔ anyi le ŋkeke 90 me tso esime amesi do ga la ku.
  4. Wò Agbanɔamedzi Siwo Yia Edzi Le Ɣeyiɣi si Wohe Ðe Edzi Me: Togbɔ be màgate ŋu aɖe ga yeye tso aƒe ƒe fetu si wogbugbɔ xɔ ƒe fli me o hã la, èxea $0 ɣleti sia ɣleti ƒe ga home kple deme le wò agbemeŋkeke mamlɛawo me, ɖeko wòle be (a) nàtrɔ ƒe sia ƒe ƒe Srɔ̃tɔ Si Medo Fe O Occupancy & Eligibility Certification, (b) axe nunɔamesi siwo katã le edzi yim la adzɔwo kple aƒetɔwo ƒe nugblẽfexeɖoɖowo ɖe game dzi, kple © beléle na aƒea.

--- .

Defense 4: Vi Tsitsiwo & Domenyilawo ƒe Gomenɔamesiwo Le Dola Mamlɛtɔ ƒe Ku megbe (The 95% Rule & 12-Month Clock)

Ne fenyila mamlɛtɔ si tsi agbe (kple Srɔ̃tɔ ɖesiaɖe si dze si Medoa Ga O) ku la, aƒea ƒe fe si wogbugbɔ do la va zua Fe si Woxena eye Woaxee. Gake dɔwɔƒedzikpɔlawo tsɔa alakpa "Ŋkeke 30 ƒe Nuxlɔ̃ame Siwo Ku Ðe Amewo Xɔxɔ Le Ame Si" wɔa anyra le ɖevi siwo le nu xam ŋu enuenu esime woɣlaa dziɖuɖua ƒe gomenɔamesi vevitɔ eve siwo le 24 C.F.R. § 206.125 ƒe Ɖoɖowɔɖi:

1. Alesi nàʋu Ɣleti 12 ƒe Ɣeyiɣikɔntabubu bliboa (Ɣleti 6 Gbãtɔ + Ŋkeke 90 ƒe HUD Kekeɖenudɔ Eve)

  • Ŋkeke 30 ƒe Tameɖoɖo Ŋuti Nyatakaka Gbãtɔ: Le ŋkeke 30 me tso esime woxɔ dɔdzikpɔla ƒe "Nyatakaka si Woaxe Kple Woaxe" le dzila aɖe ƒe ku megbe la, ele be domenyilawo alo domenyinudzikpɔla naɖo Tameɖoɖo ƒe Nyatakaka si woŋlɔ ɖi (to nɔnɔmetata si le ete zazã me) si me wòagblɔ nenye be ƒomea ɖoe be yeatsɔ (A) Adzra nunɔamesiawo, (B) Fe / Gbugbɔ ga na aƒe si wogbugbɔ xe be aƒea nanɔ ƒomea me, alo (C) Wɔ Deed-in-Lieu of Foreclosure.
  • Ɣleti 6 ƒe Fesre si Wowɔna Le Eɖokui Si (Ŋkeke 180 Tso Ku Me): Le **24 C.F.R. §.
  • Ŋkeke 90 ƒe HUD Kekeɖenudɔ Eve (Ɣleti 7 vaseɖe 9, kple Ɣleti 10 vaseɖe 12): Ne aƒea medzra o alo domenyinumãgbalẽ/gagbugbɔgaɖoɖo gakpɔtɔ le edzi yim esime Ɣleti 6 le aƒe tum la, tsɔ agbalẽ ɖo ɖe Ŋkeke 90 ƒe HUD Kekeɖenudɔ Gbãtɔ (ŋkeke 15 va ɖo 30 ya teti hafi ɣleti 6 ƒe ɣeyiɣi mamlɛa nawu enu) tsɔ kpe ɖe kpeɖodzi si fia be asitsatsa le dɔ dzi (MLS Listing Agreement si wode asi na kple aƒewo kple anyigbawo ƒe asitsala ALOO Dodo ƒe Dɔbiagbalẽvi si wode asi / Do ŋgɔ na Dadaɖeanyi Lɛta tso aƒedola aɖe gbɔ kpe ɖe Probate Letters Testamentary ŋu). Ne ehiã la, àte ŋu abia be woana Ŋkeke 90 ƒe HUD Kekeɖenudɔ Evelia, si ana wò ƒomea nakpɔ ɣleti 12 blibo be woadzra alo agbugbɔ ga ana.

2. Fexexe ƒe Se si Me Womezãa "Asixɔxɔ Si Wobu ƒe 95%" (24 C.F.R. § 206.125(a)(2)) .

FHA-nugblẽfexexe ƒe HECM ƒe aƒe ƒe fetu ɖesiaɖe nye 100 le alafa me Non-Recourse Loan: womate ŋu axɔ fenyila si ku ƒe nunɔamesi bubuwo (gadzraɖoƒe ƒe gakɔntawo, agbe ƒe nugblẽfexeɖoɖo, ʋuwo) alo domenyilawo ŋutɔ gbeɖe be woatsɔ ga home si sɔ gbɔ wu aƒea ŋutɔ ƒe asixɔxɔ o.

Enyo wu gɔ̃ hã, le **24 C.F.R. §.

  • 100% le HECM ƒe gadodo ƒe susɔe si womexe o me, OR
  • 95% le aƒea ƒe Asixɔxɔ Dzɔdzɔe si li fifia abe alesi FHA ƒe asixɔxɔ dede nu ŋu si HUD de se na dziɖuɖua ɖoe ene.

Bia be woawɔ Dzesidede si HUD de se be woatsɔ aʋã 95% ƒe Sea

Mègana reverse mortgage servicer nagblɔ na wò gbeɖe be "95% Sea ku ɖe ame etɔ̃lia ƒe nudzadzra kpuiwo ko ŋu eye menye ƒomea me tɔ siwo léa aƒea me ɖe asi o." HUD de se ɖe gadzraɖoƒe ƒe ɖoɖo xoxo ma nu tẽ. Le 24 ƒe C.F.R. § 206.125(a)(2)(ii), gomenɔamesi si tututu le domenyila siwo lé aƒea ɖe te le ƒomea me be woaxe aƒe si wogbugbɔ xɔ la ɖe asixɔxɔ si wobu fifia ƒe 95% nu. Be nàzã 95% ƒe sea la, bia tso dɔwɔƒea si to agbalẽ me be wòabia Official HUD Death/Short-Sale Appraisal (maxɔ ga home aɖeke do ŋgɔ tso kotoku me na wò o).

--- .

Copy-and-paste template: HECM Default Cure, Srɔ̃tɔ si Medoa Ga O, & Domenyilawo ƒe Nyatakaka

De dzesi aɖaka si sɔ kple wò nɔnɔmea eye nàɖo lɛta sia to Certified Mail, Return Receipt Requested, Fax, kple Email dzi na reverse mortgage servicer.

URGENT: FORMAL HECM LOSS MITIGATION / OCCUPANCY / NON-BORROWING SPOUSE / HEIRS' NOTICE
(PURSUANT TO 24 C.F.R. PART 206, HUD HANDBOOK 4000.1, AND RESPA 12 C.F.R. § 1024.35/.38)

Date: [Insert Date]

TO: [Name of Reverse Mortgage Servicer, HECM Default / Loss Mitigation / Estates Dept.]
    [Servicer Address, Fax Number, and Email]

RE: HECM Loan Number: [Insert Loan Number] | FHA Case Number: [Insert FHA Case No.]
    Borrower(s) Name: [Name of Borrower]
    Property Address: [Full Street Address]

Dear HECM Servicing & Compliance Officer:

PLEASE TAKE FORMAL NOTICE of the following statutory election and request to suspend any "Due and Payable" acceleration or foreclosure referral on the above-referenced HECM loan (check applicable section):

[ ] SECTION A, CURE OF OCCUPANCY DEFAULT (24 C.F.R. §§ 206.27(c), 206.39):
    The Borrower continues to maintain the subject property as their Principal Residence (or has been temporarily absent in a medical/rehabilitation facility for LESS than 12 consecutive months since [Date]). Enclosed are (1) the signed Annual Occupancy Certification, (2) two current utility bills showing active residential service, and (3) a physician's statement confirming temporary medical absence. Demand is made to immediately recall any Due and Payable status and credit back any improper inspection fees.

[ ] SECTION B, REQUEST FOR TAX & INSURANCE (T&I) REPAYMENT PLAN OR AGE 80+ AT-RISK EXTENSION:
    Regarding the Corporate Advance balance of $[Amount] for property taxes and/or hazard insurance:
    (1) [If Borrower is Age 80+ with Health Hardship]: The youngest borrower is age [Age] (DOB: [Date]) and suffers from a critical medical condition documented in the attached Physician Certification. We request that you immediately submit an "At-Risk Extension" request to HUD under HUD Handbook 4000.1.
    (2) [For All Other Borrowers]: I request an immediate Financial Assessment and a [36 / 48 / 60]-Month HECM T&I Repayment Plan calculated at no more than 25% of monthly Surplus Income, and request an immediate stay of foreclosure referral while my application (and State HAF / Senior Tax Deferral application) is processed.

[ ] SECTION C, SURVIVING NON-BORROWING SPOUSE (NBS) DEFERRAL PERIOD (24 C.F.R. § 206.55 & HUD ML 2021-11):
    Borrower [Name] passed away on [Date of Death] (Death Certificate attached). I am the surviving Eligible Non-Borrowing Spouse. We were legally married at loan closing on [Date] and remained married until the Borrower's death, and I occupy the property as my Principal Residence. Pursuant to 24 C.F.R. § 206.55 and HUD Mortgagee Letter 2021-11 (or MOE Assignment for pre-08/04/2014 Case Numbers), I hereby invoke my statutory Deferral Period. Please send me the NBS Annual Certification package immediately.

[ ] SECTION D, HEIRS' / ESTATE NOTICE OF INTENT, APPRAISAL DEMAND, & EXTENSION REQUEST (24 C.F.R. § 206.125):
    Borrower [Name] passed away on [Date of Death]. I am the [Surviving Child / Executor / Successor in Interest] (Death Certificate and proof of heirship/authority attached).
    1) Notice of Intent: The Estate/Heirs hereby give formal notice of intent to [sell the property / purchase and retain the property via refinance] pursuant to 24 C.F.R. § 206.125.
    2) Demand for Payoff Quote & Official HUD Appraisal (95% Rule): Please provide an itemized payoff statement AND order an official HUD Fair Market Value Appraisal so that the Estate/Heirs may satisfy the HECM for the lesser of the unpaid loan balance or 95% of current appraised value under 24 C.F.R. § 206.125(a)(2).
    3) Request for 6-Month Hold & 90-Day HUD Extension: Please confirm the initial 6-month marketing/settlement window through [Date 6 Months from Death] [and grant a 90-Day HUD Extension based on the attached MLS Listing Agreement / Lender Pre-Approval Letter].

Sincerely,

____________________________________
[Your Signature]
[Your Printed Name, Relationship to Borrower, Address, Phone, and Email]

--- .

Dukɔwo dome aƒe ƒe fetu si wogbugbɔ xɔ (Equity Release) ƒe fexexe & srɔ̃tɔ si tsi agbe ƒe ametakpɔkpɔwo

Ne wò alo dzila tsitsi aɖe xɔ aƒe ƒe fe si wogbugbɔ xɔ le United States godo la, se kple dɔwɔƒewo ƒe sewo ɖo seɖoƒe na gadodolawo ƒe gaxɔgbalẽviwo xɔxɔ kple ga si woatsɔ awɔ dɔe le mɔ gbegblẽ nu vevie:

  • Canada (CHIP Reverse Mortgage / HomeEquity Gadzraɖoƒe & Equitable Gadzraɖoƒe, No Negative Equity Kakaɖedzi & Srɔ̃tɔ si tsi agbe ƒe Gomenɔamesiwo):
  • Adzɔ, Nugblẽfexeɖoɖo, Kple Belélename ƒe Femaxexe: Le Canada la, aƒe ƒe fe siwo wogbugbɔ xena mehiã be woaxe ga home alo deme ɣleti sia ɣleti o, gake ele be aƒetɔa nana dudzikpɔƒe ƒe Nugblẽfexexe, Aƒeme Nugblẽfexeɖoɖo, kple Aƒeme/Aƒewo ƒe Fewo nanɔ ɣeyiɣi si sɔ me. Ne ame tsitsi aɖe tsi megbe le nunɔamesiwo ƒe adzɔxexe me la, atike si woate ŋu ada kabakaba wu le nuto siwo le abe British Columbia, Alberta, kple Ontario ene mee nye be woabia Nutome/Dudzikpɔƒe ƒe Ame Tsitsiwo ƒe Adzɔxexe Ðe Adzɔxexe Ðe Nuwo Ŋu, si xea dudzikpɔƒea ƒe adzɔ si tsi megbe ale be aƒedola si trɔ megbe la mate ŋu ayɔ gadodoa be wòaxe fe o.
  • Death of Borrower & Heirs' Settlement Window: Ne srɔ̃tɔ evea siaa le aƒe ƒe ŋkɔ dzi (abe alesi Canada ƒe reverse mortgage underwriting bia ene) la, womate ŋu ayɔ gadodoa be wòaxe o vaseɖe esime srɔ̃tɔ evelia naku alo aʋu ayi ɣeyiɣi didi ƒe beléle me tegbee. Ne amesi do ga mamlɛtɔ si tsi agbe ku la, zi geɖe la, ŋkeke 180 (ɣleti 6) nɔa domenyinu/domenyilawo si be woaxe gadodoa to nudzadzra alo gagbugbɔgadzɔ dzi, si ŋu nubabla ƒe No Negative Equity Guarantee (si kpɔa egbɔ be domenyinu la menyi fe si wu aƒea ƒe asixɔxɔ si sɔ le asi me le edzadzra me gbeɖe o, nenye be wowɔ ɖe gadodo ƒe nɔnɔmewo dzi).
  • United Kingdom (Agbeme Aƒewo ƒe Fewo, Equity Release Council Dzidzenuwo, Ɣeyiɣi Didi ƒe Belélename ƒe Asiɖeɖe le & FCA Sewo):
  • Equity Release Council (ERC) Safeguards: UK Lifetime Mortgages ƒe 90% kple edzivɔ wɔna ɖe Equity Release Council Standards dzi, siwo naa kakaɖedzi gomenɔamesi eve siwo ŋu womate ŋu awɔ ɖoɖo ɖo o: (1) **Gomenɔamesi si nye be Nànɔ wò nunɔamesi me le wò agbe me katã alo vaseɖe esime nàʋu ayi teƒe si woakpɔ aƒea le ɣeyiɣi didi aɖe me tegbee (nenye be aƒea gakpɔtɔ nye wò nɔƒe vevitɔ eye wò hã wɔ ɖe nubabla la dzi), kple (2) No Negative Equity Guarantee (NNEG), si fia be ne amesi do ga mamlɛtɔ ku alo ge ɖe beléle si anɔ anyi ɖaa me eye wodzra aƒea ɖe asi nyuitɔ kekeake si woate ŋu akpɔ nu la, fenyilaa alo domenyinu la maxɔ agba aɖeke le ga si hiã la ta gbeɖe ne deme si woƒo ƒu la wu aƒea ƒe asi o.
  • Ɣleti 12 ƒe Fesre na Dɔdzikpɔlawo: Ne amesi do ga mamlɛtɔ si tsi agbe ku alo ge ɖe belélexɔ me tegbee la, zi geɖe la, UK Lifetime Mortgage dolawo naa ɣleti 12 na gadodolawo/domenyilawo be woatsɔ adzra aƒea ahadzrae hafi awɔ sedziwɔwɔ ƒe afɔɖeɖe. Ne amesi do ga na ame aɖe do ŋɔdzi na ye be yeagbugbɔ yeƒe nunɔamesiwo axɔ le nunɔamesiwo dzadzraɖo alo xɔwo ƒe nugblẽfexeɖoɖo ta la, tsɔ nya ɖe ame ŋu le se nu le FCA MCOB ƒe sewo nu eye nàdoe ɖe dzi va ɖo Ganyawo Gbɔkpɔha (FOS).
  • Australia (Se ƒe Kakaɖedzinana Masɔmasɔ aɖeke le NCCP Act & Services Australia "Aƒeme Dzɔdzɔenyenye ƒe Mɔɖeɖe ƒe Ðoɖo" te):
  • Sedziwɔwɔ ƒe Kakaɖedzi si nye No Negative Equity (Tso September 18, 2012 dzi): Le dukɔa ƒe Dukɔa ƒe Nuƒlelawo ƒe Gaxɔgbalẽviwo Takpɔkpɔ Se 2009 (Dukɔa ƒe Gaxɔgbalẽviwo ƒe Se ƒe Akpa 86A vaseɖe 86F) nu la, aƒe ɖesiaɖe si wogbugbɔ xɔ le Australia le September 18, 2012 dzi alo le ema megbe la tsɔa Se si nye No Negative Equity Kakaɖedzi, dukɔa ƒe se xe mɔ na amesi do ga na ame be wòagabia alo axɔ nusi wu asitsaƒe ƒe asixɔxɔ si le aƒe si wogbugbɔ do ɖe aƒea ŋu ne gadodoa wu enu o (negbe le ametafatafa alo eɖoe koŋ gblẽ nunɔamesiwo dome ko).
  • Nutoa me tɔwo ƒe Gomenɔamesiwo Takpɔkpɔ: Le Dukɔa ƒe Gadodo ƒe Se nu la, ne amesi do ga la tiae le gadodo ƒe gɔmedzedze be yeatia Nunɔla si mexɔ ŋkɔ o (abe srɔ̃tɔ alo zɔhɛ ene), gome le ame ma si wokpɔ ta na la si le se nu be wòayi edzi anɔ aƒea me ne amesi do ga gbãtɔ ku alo ʋu yi ame tsitsiwo dzikpɔƒe gɔ̃ hã. Gakpe ɖe eŋu la, ne ame ŋutɔ ƒe aƒe si wogbugbɔ do ƒe fetu mele gaxɔ me o alo le asitsatsa ƒe fetu gãwo xɔm la, Australiatɔ tsitsi siwo dze na ƒexɔxɔ ƒe Dzudzɔxɔxɔledɔme ate ŋu agbugbɔ ga axe asitsaƒe si wogbugbɔ xɔ ƒe fetu ɖe Australia Dziɖuɖua ƒe deme sue Aƒeme Equity Access Scheme (HEAS) si dzi Services Australia / Department of Veterans’ Affairs kpɔna, eye woate ŋu atɔ te ame ŋutɔ ƒe gadodo ƒe sedziwɔwɔ enumake to a nyatoƒoetoto le Australia ƒe Ganyawo Ŋuti Nyatoƒoetoto Dɔwɔƒe (AFCA).

--- .

Nya siwo wobiaa amewo enuenu

Can the reverse mortgage company take my parents' house just because they owe $2,800 in overdue county property taxes?

While failing to pay property taxes is technically a default under the HECM mortgage agreement, HUD strictly discourages foreclosures over small balances. Under HUD Single Family Housing Policy Handbook 4000.1, if the total corporate advance (the amount the servicer paid on your parents' behalf for back taxes and insurance) is under HUD's de minimis threshold (typically $2,000 to $5,000), the servicer is permitted to delay calling the loan Due and Payable. Even if the balance is over $5,000, your parents have the right to request a 12-to-60-month HECM Repayment Plan (paying only 25% of their monthly Surplus Income), apply for a county Senior Property Tax Deferral/Exemption, or, if the youngest borrower is age 80 or older with a serious health condition, obtain a renewable 1-year HUD "At-Risk Extension" that stops foreclosure completely.

If my parents' reverse mortgage balance is $400,000, but the house is only worth $280,000 after they pass away, do I (as the heir) owe the bank the missing $120,000?

No, never. Every federally insured HECM reverse mortgage is a 100 percent Non-Recourse Loan under 24 C.F.R. § 206.27(b)(8). Neither you, your siblings, nor your parents' other estate assets (such as their bank accounts, IRAs, or life insurance policies) can ever be touched to pay a reverse mortgage shortfall. Even better, if you want to keep the family home instead of letting it go, 24 C.F.R. § 206.125(a)(2) allows you to buy/refinance the house and pay off the entire $400,000 reverse mortgage for just 95 percent of its current HUD-appraised fair market value (95% of $280,000 = $266,000), and FHA's Mortgage Insurance Fund absorbs the remaining $134,000 loss.

Why did the reverse mortgage servicer freeze my parent's reverse mortgage Line of Credit when they still have $60,000 of unused credit left?

Under 24 C.F.R. § 206.205(e), if a borrower fails to pay their property taxes or homeowners insurance on time and the servicer is forced to make a "Corporate Advance" out of its own funds to pay the county tax collector or buy force-placed insurance, the servicer is required by HUD rules to first withhold the unpaid tax/insurance amount from your parent's available HECM Line of Credit (or monthly tenure payments), and if the line of credit is exhausted or the loan is placed into formal T&I default status, the servicer freezes future draws from the Line of Credit until the tax and insurance default is cured or placed onto an approved HECM Repayment Plan.

Should I sign a "Deed-in-Lieu of Foreclosure" if we do not want to keep our deceased parent's underwater house?

If the reverse mortgage balance is far higher than the home's market value and no family member wants to buy the house for 95% of its appraised value, signing a "Deed-in-Lieu of Foreclosure" is often the cleanest way to walk away, and servicers frequently pay $1,500 to $5,000 in relocation assistance under HUD guidelines if you leave the property broom-clean. Before signing a Deed-in-Lieu, always check a real estate valuation first: if the house is worth MORE than the reverse mortgage balance, sell the house on the open market instead so your family keeps 100 percent of the remaining equity after the reverse mortgage is paid off.

--- .

Wolé ŋku ɖe dzɔtsoƒewo ŋu

  • MÍ. Aƒewo Kple Dugãwo ƒe Ŋgɔyiyi Dɔwɔƒe (HUD, United States): Aƒemenuwo ƒe Trɔtrɔ ƒe Adzɔxexe (HECM) ƒe Sededewo (24 C.F.R. Akpa 206, si me § 206.27 Nɔƒe ƒe Se Veviwo, § 206.55 Heheɖemegbe Ɣeyiɣi na Srɔ̃tɔ Siwo Medo Ga O Siwo Dze, § 206.107 & § § 206.107 & § hã le. 206.125 Domenyilawo ƒe 95% Fexexe ƒe Se kple Ɣleti 6/Ŋkeke 90 ƒe Kekeɖenudɔwɔwɔ ƒe Ɣeyiɣiɖoɖowo, kple § 206.205 Nuwo ƒe Fewo).
  • MÍ. Aƒewo Kple Dugãwo ƒe Ŋgɔyiyi Dɔwɔƒe (HUD / FHA): Ƒome Ðeka ƒe Aƒewo ƒe Ðoɖowo Ŋuti Mɔfiamegbalẽ 4000.1 (Tanya II Nugblẽfexexe ƒe Ðoɖowo ƒe Aƒewo ƒe Fewo Do Ŋgɔ Kple Wo Trɔ Gbɔ, HECM ƒe Nusiwo Bu Dzi Ðeɖe Akpɔtɔ, Ɣleti 60 ƒe Fexexe ƒe Ðoɖowo, De Minimis T&I ƒe Dzesiwo, Kple Ƒe 80+ Le Afɔku Kekeɖenudɔwɔwɔwo Me), Aƒewo Xɔxɔ Lɛta 2019-15, kple Aƒetɔ ƒe Lɛta 2021-11 (Srɔ̃tɔ Siwo Medoa Ga O ƒe Takpɔkpɔ Siwo Wokeke Ðe Edzi Kple Ŋkeke 90 ƒe Asitsaƒe ƒe Nudidi ƒe Nudidi La Ðeɖeɖa).
  • Nuƒlelawo ƒe Ganyawo Takpɔha (CFPB, United States): Aƒe ƒe Fexexe ƒe Dɔwɔnawo ƒe Dodokpɔ ƒe Ðoɖowo, RESPA ƒe Viɖekpɔkpɔ ƒe Sewo (12 C.F.R. § 1024.30(d) kple § 1024.38(b)(1)(vi)), kple Aƒe ƒe Fe si Wotrɔ Ðe Asi Le Asiwò: Nya Wò Gomenɔamesiwo Kple Agbanɔamedziwo (CFPB Nuƒlelawo ƒe Mɔfiame).
  • Canada ƒe Ganyawo ƒe Nuƒlelawo ƒe Dɔwɔƒe (FCAC): Aƒewo ƒe Fewo Trɔ Ðe Edzi le Canada: Dodola ƒe Agbanɔamedziwo Kple Kakaɖedzi Gbegblẽ aɖeke Manɔmee o.
  • Ganyawo ƒe Agbenɔnɔ Ŋuti Dɔwɔƒe (FCA) kple Equity Release Council (United Kingdom): MCOB 8 & 9 (Equity Release: Aɖaŋuɖoɖo kple Nudzadzra ƒe Dzidzenuwo) kple Equity Release Council ƒe Adzɔnuwo ƒe Dzidzenuwo (Gomenɔamesi be Woanɔ Anyi Kple Equity Guarantee Gbegblẽ aɖeke Manɔmee).
  • Australia ƒe Dedienɔnɔ Kple Gadede Asi ƒe Dɔwɔha (ASIC / Moneysmart) kple Subɔsubɔdɔwo Australia: Dukɔa ƒe Nuƒlelawo ƒe Gaxɔgbalẽviwo Takpɔkpɔ Se 2009 (Dukɔa ƒe Gaxɔgbalẽviwo Ŋuti Se ƒe Akpa 86A vaseɖe 86F Se ƒe Kakaɖedzi Mawɔmawɔ Nyuie Kple Ame Siwo Wokpɔ Ta Na ƒe Sewo) kple Aƒeme Dzɔdzɔenyenye ƒe Ðoɖo (HEAS) ƒe Mɔfiamewo.

--- .

Mɔfiame siwo do ƒome kplii