Wednesday, December 5, 2012

Foreclosures on widow(er)s—another hole in the mortgage system


by Ethan Handelman, National Housing Conference

AARP data show that foreclosures for people over 50 are rising faster than for any other age group, in part due to mortgage servicing failures that make it hard for widow(er)s to assume and modify mortgages from their spouses. The New York Times reports on the problem, the initial steps some lenders have taken, and the push for private-sector reforms and public policy responses.

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