Protecting elderly homeowners : reverse equity mortgages as a foreclosure intervention tool

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dc.contributor.advisorJacobs, Ericen_US
dc.contributor.authorTravis, Lisaen_US
dc.date.accessioned2011-01-11T19:53:31Z
dc.date.available2011-01-11T19:53:31Z
dc.date.issued2010en_US
dc.description.abstractHomeowners facing foreclosure by definition are short on money and vulnerable. As many homeowners face economic instability due to the "Great Recession" and have an increased need for cash flow, they become more susceptible to losing their homes due to mortgage delinquency, foreclosure, or predatory lending practices. Elderly homeowners are especially susceptible as over 684,000 homeowners age 50 and over were delinquent, in foreclosure, or lost their home. Reverse equity mortgages may be solution for elderly homeowners that will allow them to increase their cash flow while at the same time reduce the risk of them losing their homes to foreclosure. This project targeted elderly homeowners 62 years old and older who are at risk of losing their home to foreclosure in Indiana and state certified housing counselors. The project provided training to state certified housing counselors on two training curriculums. One curriculum focused on conducting reverse equity mortgage classes with elderly homeowners to raise their awareness about reverse equity mortgages. This curriculum was based on a similar structure to traditional pre-purchase housing counseling classes. The second curriculum focused on one-on-one counseling techniques and screening foreclosure clients to evaluate whether reverse equity mortgages are a viable foreclosure intervention tool. As a result of training received by state certified housing counselors, two elderly homeowners have avoided foreclosure in Indiana within two months of the training. (Author abstract)en_US
dc.description.bibliographicCitationTravis, L. (2010). Protecting elderly homeowners: Reverse equity mortgages as a foreclosure. Retrieved from http://academicarchive.snhu.eduen_US
dc.description.degreeMaster of Science (M.S.)en_US
dc.description.schoolSchool of Community Economic Developmenten_US
dc.digSpecsAdobe Acrobat Professional 9.3en_US
dc.format.extent1609728 bytesen_US
dc.format.mediaTypeapplication/pdfen_US
dc.identifier.urihttps://hdl.handle.net/10474/1649
dc.language.isoen_USen_US
dc.publisherSouthern New Hampshire Universityen_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsAuthor retains all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.rightsHolderTravis, Lisaen_US
dc.subject.lcshSouthern New Hampshire University -- Theses (Community Economic Development)en_US
dc.subject.otherforeclosure preventionen_US
dc.subject.otherreverse equity mortgagesen_US
dc.subject.otheraffordable housingen_US
dc.subject.othersenior housingen_US
dc.subject.otherhomeowner counselingen_US
dc.subject.otherIndiana (US)en_US
dc.titleProtecting elderly homeowners : reverse equity mortgages as a foreclosure intervention toolen_US
dc.typeThesisen_US

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