9th Circuit rejects claims over reverse mortgage foreclosure

A federal appeals court has rejected claims that Wells Fargo and Freddie Mac unlawfully foreclosed on homes of consumers with reverse mortgages after their deaths and violated rights of heirs to purchase the homes.

In a decision on Thursday, the 9th Circuit Court of Appeals affirmed a lower court’s dismissal of the case, saying federal guidance on reverse mortgages, “while not entirely clear,” did not support claims of borrowers’ heirs.

Read on.

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