[WSBARP] Foreclosure of Reverse Mortgage
tjw at w3net.net
tjw at w3net.net
Wed Nov 6 11:34:58 PST 2019
Dewey,
Assuming the Deed of Trust (or Deeds of Trust if a HUD insured reverse mortgage) provides that the Grantor must keep the taxes and insurance paid, then failure to pay would be a reason to foreclosure. I assume since you are talking about a MSJ this is this a judicial foreclosure?
If paying the taxes and insurance is your client’s obligation and she hasn’t paid, then one option is for her to pay both directly if anyone in her family has the money to help her. But, if your research indicates that she had paid, then a simple affidavit from her with any documentary evidence you have would certainly preclude a Judge granting summary judgment against a 91 year old lady.
Also, check if there was an escrow account set up that is supposed to pay the taxes and insurance and if so, how is it funded. I would expect the lender (Beneficiary) would be the one paying the taxes and insurance from an escrow account that was either funded by your client by monthly payments or perhaps some of the upfront money was put into the escrow account to make payments.
The devil is in the details.
Sincerely,
Tom
Thomas J. Westbrook
Attorney at Law
Rodgers, Kee, Card & Strophy, P.S.
324 West Bay Drive NW, Suite 201
Olympia, Washington 98502
Phone: 360-352-8311
Facsimile: 360-352-8501
Email: <mailto:tjw at buddbaylaw.com> tjw at buddbaylaw.com
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Dewey Weddle
Sent: Wednesday, November 6, 2019 10:30 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Foreclosure of Reverse Mortgage
Esteemed colleagues,
Financial institution (CIT Bank) is trying to foreclose a reverse mortgage, asserting that property taxes and homeowners insurance were not paid. My research indicates that they are wrong about that, but they are moving forward with a motion for summary judgment on the issue.
My client is an elderly widow (91) who has been diagnosed with late stage renal failure, gets around with a walker, is tethered to one of those oxygen machines, and cannot be treated with dialysis. In short, her prognosis is poor.
Do any of you have any insights or arguments I could present in addition to them being wrong about the property taxes and the homeowner's insurance?
Best regards,
Dewey
Law Office of Dewey W. Weddle, PLLC
909 7th Street
Anacortes, WA 98221
Telephone: 360-293-3600
Fax 360-293-3700
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