Foreclosed on, Irregularly, After 74 Years

MINNEAPOLIS (CN) – An elderly, disabled woman lost to an illegal foreclosure the home she has lived in for 74 years, after Reverse Mortgage Solutions and Fannie Mae “accelerated” her loan balance, she claims in court.
Patricia A. Witte sued Reverse Mortgage Solutions, a Delaware corporation based in Texas, and the Federal National Mortgage Association, on July 15 in Hennepin County Court.
In the lawsuit, Witte says her parents bought the home in 1939, and she has lived there her entire life. As a child she contracted Guillain-Barre Syndrome and has been disabled for most of her life, making it impossible to work due to the disability. Her parents used the home to care for her, and lived there until their own deaths.
When Witte inherited the home it was free from any mortgages or other liens, but it the home needed repairs, according to the complaint.
“Ms. Witte received only Social Security income at the time – between $400 and $500 per month. She could not qualify for any other kind of loan besides a reverse mortgage loan,” according to the complaint.

Read on.

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