October 3, 2022 — Issue Brief

Reverse mortgages are intended to help older Americans age in their homes. Yet, across the
country, reverse mortgage borrowers and their spouses are losing their homes because the
U.S. Department of Housing and Urban Development (HUD) has not acted to prevent
unnecessary foreclosures. HUD should take immediate action to expand home retention
options for reverse mortgage borrowers who fall behind on property taxes and insurance,
address remaining problems facing non-borrowing spouses, and ensure that the companies
servicing these complex mortgage loans communicate effectively in order to help older
homeowners remain in their homes.