The governing council of the nation’s capital, Washington, D.C. is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure.

In mid-January, the D.C. council enacted the “Fairness and Stability in Housing Amendment Act of 2024,” which amends specific housing agency laws to allow for protections for older district residents with a reverse mortgage loan. D.C. Mayor Muriel Bowser approved the measure on Jan. 16, and its said to take effect following a 60-day period of congressional review.

It creates a permanent reverse mortgage foreclosure prevention details ⇒

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