skip to content

Advocate Resource Center

Oklahoma Lawyers Making Equal Justice for all a Reality

Crossing Paths: The Intersection Between Reverse Mortgages and Bankruptcy

Wednesday February 12 , 2014

  • By: National Consumer Law Center
  • Time: 1:00 PM - 2:30 PM
  • Time Zone: Central Time (US & Canada)
  • Location:
    Webinar (Live)
  • Contact:
    National Consumer Law Center
  • Website: www.nclc.org

A FREE WEBINAR

The senior population of the United States is expected to grow rapidly over the next twenty years. Rather than enjoying their golden years, increasingly older Americans are struggling with less income, greater debt and insufficient retirement savings. The average amount of debt held by seniors has soared over the last decade. Many now rely on credit cards to cover their basic living expenses. Rising mortgage debt has compromised the use of home equity as a retirement nest egg. There are few easy solutions.

Two tools available to seniors to combat financial distress are reverse mortgages and bankruptcy. Reverse mortgages allow seniors to tap their home equity to pay off outstanding debts or supplement monthly income. Bankruptcy provides an opportunity to obtain a fresh start by discharging certain debts or adjusting one's financial affairs. The two options-reverse mortgages and bankruptcy-are not mutually exclusive.

This webinar will review the intersection between these two tools and when they can work together to prevent foreclosure or put a senior on more solid financial footing.

Presenter: Tara Twomey, of counsel, National Consumer Law Center

Register: <https://www1.gotomeeting.com/register/938967464>

Login

Practice Area

National Practice Areas

Pro Bono and legal aid attorney resources - Pro Bono Net

Legal help?
Call 888-534-5243

image: Legal Aid Services of Oklahoma logo