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aarp and reverse mortgages

AARP sues HUD over Reverse Mortgages: What is a reverse mortgage ttp In this video, real estate attorney hugh Fitzpatrick from Tewksbury Massachusetts discusses the lawsuit ...

Evanston resident faces potential eviction due to reverse mortgage practices

Evanston resident Audrey Steele’s family has lived in her home for three generations. But after the death of her husband, she received an eviction notice — though federal law protects her rights as a spouse of the deceased.

Evanston Collective founder and president Bobby Burns said Steele was a victim of “predatory reverse mortgage lending practices.” Her husband had taken out a reverse mortgage, allowing him to use their home’s value to pay bills and expenses, but when he died, Cook County officials sent Steele an eviction notice to repay her husband’s debts.

Steele’s plight caught the attention of a local organization, Dear Evanston. There was a rally at Steele’s home in the 5th ward on Saturday to protest her impending eviction. In a video on Dear Evanston’s Facebook page, Steele said she is looking for a new place to live, but she cannot afford a house and her health prevents her from renting an apartment.

Planning for Housing When Retired

By Bill Primavera

A while back I was asked to speak about real estate at a meeting of the Retired Municipal Employees Association, and as I planned my remarks, I thought about the reality that I’m at an age when some people think about retiring and living differently than they do now. As for me, I intend never to retire from the enjoyable work I do unless I absolutely must because of the physical considerations of aging.

A realtor must be able to get around and I sometimes wonder whether my “trick” knee will someday get the best of me. However, for now, I’m good. Nevertheless, my living preferences have changed significantly in the past few years, just as if I were retiring.

When I was still in my 20s, my wife and I moved to a historic home that was to be our residence for many years to come, and I was eager and ready to restore and maintain it. I was known as the “young guy” on the block who always answered the door with a hammer or paint brush in hand. Eventually, however, I reached the stage of life when I would rather be doing something other than hammering and painting. I now live in a one-floor residence where all maintenance is provided, so I can retire here if I choose.

What are your mute-button commercials?

You know. TV ads that are so annoying that you have to dive for the mute button to avoid hearing them.

Flooring Express. Ugh.