Practice Tools

This sample letter can be used to request the Mortgage Optional Election (MOE) for a non-borrowing spouse. In addition to the death certificate, marriage certificate, and SSN, it is a good idea to explain the non-borrowing spouse's ownership interest or legal right to remain in the property (even if only under state intestacy laws). Include any applicable citation to state law and attach any relevant documents (such a will naming the  non-borrowing spouse'   as beneficiary, or an heirship affidavit, if appropriate under state law).

The short argument found in the document can be used to dispute a mortgagee’s attempt to charge additional fees in the reinstatement or cure amount the borrower must pay for a property charge default. The servicer might attempt to include these fees in a reinstatement quote to avoid foreclosure, or in a proof of claim in a Chapter 13 bankruptcy.

This budget worksheet can be used in a reverse mortgage situation to determine a homeowner’s expenses and income.  It can be also used in other contexts.

For post-August 4, 2014 loans where NBS was named as an Eligible Non-Borrowing Spouse in the loan docs, this sample NOE can be used to dispute the servicer’s failure to evaluate the NBS for the deferral period, or improper denial based on failure to meet the requirement of establishing ownership or legal right to remain in the property within 90 days of the borrower’s death.

This is a 15-page blank standard form agreement suitable for where a surviving spouse is not on a reverse mortgage to keep the survivor in the house after the passing of the other spouse.

This is a lender’s standard form affidavit of heirship filled in by the homeowner.

This is a sample notice of error and request for information (pursuant to RESPA regulations).  This sample can be used to request information from a servicer about the status of an MOE (Mortgagee Optional Election) assignment, particularly where it appears HUD may not have approved a request for assignment, and the advocate is trying to determine the reason.

This is a sample notice of error from a homeowner (pursuant to RESPA regulations).  The notice asks the reverse mortgage lender to stop either acceleration or foreclosure of the reverse mortgage because, despite the lender’s claims, the property is in fact occupied.  The notice provides evidence of that occupancy.

This is a sample letter to HUD asking it to reopen a housing discrimination case where a reverse mortgage lender systematically refuses to provide accommodations to homeowners with disabilities to allow them more time to request an

“at risk extension” on overdue property taxes or other charges.