[manaboutown]

Originally Posted by retiredguy123

I disagree. The legal foreclosure process may be similar to that for other mortgages. But, if you have ever inspected reverse mortgage foreclosure properties, you would know that they are very often in deplorable condition and not worth the investment to fix them up for resale. And, as another poster said, the bank has no skin in the game like with other mortgages. People who have a reverse mortgage usually don't have the assets or pride of ownership to properly mantain the house. These are facts that make reverse mortgage foreclosures much different than other foreclosures.