Reverse Mortgage Nightmare: 95-Year-Old Woman Foreclosed On By Lender

Carolyn Rosenblatt Contributor on

There are a lot of things reverse mortgage lenders never emphasize when getting people to borrow the equity in their homes.  They tell you how great it is and for some, it is indeed a solution to a cash problem. But beware of what can happen as you age and might get behind on your taxes or insurance. The lender can promptly foreclose on your home. It happened to 95 year old Retha Floyd.  She was going to lose her house, where she had lived for 50 years.