The Consumer Financial Protection Bureau has released a guide for older homeowners on how to meet their reverse mortgage loan obligations while recovering from a hurricane, fire, flood or other natural disaster.
After a natural disaster, reverse mortgage borrowers may experience damage to their home, unexpected expenses and a sudden loss of income. All of these things may make it difficult for them to comply with the loan requirements, which could lead to foreclosure.
Read the CFPB’s new reverse mortgage disaster guide and share it with clients you serve, financial caregivers and anyone else who could benefit.
- Download the guide.
- View more resources for those affected by natural disasters at consumerfinance.gov/prepare.
- Visit consumerfinance.gov/reversemortgage for more information on reverse mortgages.