Dear Annie: In reference to a recent column where a reader said he lost his home to a reverse mortgage, there are two main ways to go about this. I’d like to explain how to avoid this so other readers don’t have this happen.
In a reverse mortgage, the amount the lender pays the homeowner in reverse does not include the lender making property tax and hazard insurance payments. These payments must be made by the reverse mortgagee (homeowner) from their own resources and kept up to date.
Failure to keep your property tax and disaster insurance payments up to date can cause lenders to step in and mortgage reverse mortgages to protect the lender’s interests. This is because non-payment of property taxes may make the property subject to another foreclosure action by the town or city in which it is located. Also, allowing hazard insurance to expire exposes the lender to the possibility of losing an investment if the property burns down or is otherwise damaged during the uninsured period.
The primary cause of reverse mortgage foreclosures is the homeowner’s inability to keep up with payments in these two areas (hazard insurance and property taxes). Funds to cover living expenses and living expenses. As Americans live longer, seniors are outlived by reverse mortgage payment schedules. As a result, property taxes and hazard insurance cannot be maintained, leading to foreclosure of reverse mortgage properties. – lawyer
Dear Lawyer: I love hearing from experts whose expertise helps readers recognize their responsibilities and what they should be aware of. In this case if they take a reverse mortgage. Everything you say makes perfect sense. Thanks for writing.
Dear Reader: Suicide is never the fault of the person who took his life. I would like to print a letter that will help make that point very clearly.
Dear Annie: In one of our recent columns, a reader mentioned resources for people in crisis.
“Suicide is really hard on survivors, so don’t just run away, take the time to review these resources — helpful resources.”
I really wanted “Resources to Help” to be helpful, but answering someone contemplating suicide with “rather than taking the easy way out” doesn’t help at all. This is an appalling attitude for those who are contemplating ending their lives by their own hands because of the pain and suffering they endure. This is not “easy out”. It only fuels stigma and the self-fulfilling prophecy that “nobody cares/understands”.
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