Reverse Mortgage Nightmare: 95 Year Old Foreclosed On By Lender Retha Floyd had taken out a reverse mortgage at a time when she could pay her property taxes and insurance. At age 95 she ran short of money to pay them. The lender sued her to foreclose. With the help of Legal Counsel for the Elderly, she was able to get a repayment plan and that suit was dismissed. But the lawyers also discovered that the lender engaged in an ugly practice of doing drive by "robo-inspections" of her home and charging her excessively for too many of them. A class action lawsuit is underway to stop that unfair practice of taking money unnecessarily from borrowers.
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