Kevin Stein is the associate director of the California Reinvestment Coalition, which advocates for the right of low-income communities and communities of color to have fair and equal access to banking and other financial services. CRC has a membership of over 300 nonprofit organizations and public agencies across California.
The California Investment Coalition submitted a Freedom of Information Act request to HUD, asking for data about Financial Freedom’s record with the number of complaints filed against it, and the number of foreclosures it had processed on widowed homeowners. Shockingly, HUD denied the fee waiver request, leaving significant reverse mortgage questions unanswered.
A federal judge has ordered HUD to craft a policy to address the problem of widows being foreclosed on when they aren’t listed on the reverse mortgage. We need a foreclosure moratoria until that happens.
Every day, people in your community are looking for a new place to call home. But in the age of the digital shift, they are now getting most of that information from their mobile devices rather than more traditional sources.