COMMITTEE ON HOUSING AND NEIGHBORHOOD REVITALIZATION

D.C. housing agency launches program to help delinquent reverse mortgage borrowers

A D.C.-based housing agency recently launched a program to help reverse mortgage borrowers facing foreclosure because of their failure to pay property taxes and homeowners insurance. While only available to help borrowers in the district, the program could be replicated in other parts of the country with a high percentage of HECM loans in default.