A notice implemented into the reverse mortgage servicing process that is designed to flag potential foreclosures if they are in a federally declared disaster area could prove to be beneficial for any borrowers currently impacted by the Los Angeles-area wildfires, according to a servicing industry expert.

Colorado fire and Ed Sharp

After a reverse mortgage borrower in Superior, Colorado, was forced out of his home by the Marshall fire in December 2021 — which burned more than 6,000 acres and caused an estimated $513 million in damage — he waited months for his insurance details ⇒

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