Even with options in place to prevent them, reverse mortgages can end in foreclosure. But Byron Batres thinks his company can offer a solution to reduce these outcomes.

While more recent numbers aren’t available, a 2019 analysis by the Government Accountability Office (GAO) of Federal Housing Administration (FHA) data found that the share of Home Equity Conversion Mortgages (HECMs) that were terminated due to default rose from 2% in 2014 to 18% in 2018. The borrower’s death accounted for 30% to 40% of these defaults — and the number is likely higher as the reason for termination could details ⇒

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