21 Mar NO LONGER ABLE TO MAKE PAYMENT
Borrower’s spouse passed away and, due to a reduction in her social security benefits, she was no longer able to make a full monthly mortgage payment. Benefit secured a HECM (reverse) mortgage that not only allows the borrower to make whatever payment she wants every month but also pays her real-estate taxes and homeowners insurance every year. Additionally, the borrower now has a substantial line-of-credit that she can access if necessary.