[Bonanza]

Originally Posted by Alaskarose

I wish those "lenders" who end up foreclosing on all those reverse mortgages were required to abide by the covenants that we are held to. It seems that they can foreclose on the property and then just sit on it for years and years while the building and the yard become an eyesore.

Most cities/counties now have laws that require lenders to maintain properties so that they do not become an "eyesore."

It's not just the reverse mortgages that have been the problem. They only play a small part in the foreclosure scene. And while foreclosure and short sale properties can take a fair amount of time to get on the market and finally sell, they don't take "years and years."