REVERSE MORTGAGES AND MORTGAGE SERVICING: WHAT WE CONTINUE TO LEARN IS DISTURBING

Last September, I posted about reverse mortgages.

We agreed to represent our client, Mrs. Gravlin 4 days before the trial was scheduled in the foreclosure action.  She had a reverse mortgage, they were foreclosing on her (despite what you might have seen on TV commercials, you can lose your house…..)

Mrs. Gravlin had been dropped by her previous attorney, (that’s a whole other subject and potential future blog post), and she was 4 days from the trial, and subsequent entry of final judgment, where she would lose her home.  We immediately sought an emergency continuance, filed amended affirmative defenses and a rough counterclaim on her behalf.

Since then, our investigation has continued, and we’ve received some significant discovery from the opposing side.  It is so much worse than we thought….

We just filed an amended counterclaim that I believe accurately recounts the events, identifies the appropriate parties, and adds several very serious causes of action.

I’ll close with two important bits of advice:  1)  If you have an elderly loved one, who was induced to get one of these reverse mortgages, take the time to compare their situation with our client, Mrs. Gravlin's.  There may be some help for them.  and;  2)  If you are even considering a reverse mortgage please read the links I posted in my previous post, and do some real, in depth, research first.

Just like I ended the post in September, stay tuned….