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Reverse mortgage proceeds should not affect homeowners’ eligibility for public benefit programs.
Federal regulators should ensure that disclosures, sales practices, and advertising of reverse mortgage loans are not misleading or deceptive.
Policymakers should ensure that reverse mortgage servicers are not engaging in unfair, deceptive, or abusive practices.
Servicers should be required to provide loss mitigation options to HECM borrowers.
Congress should reauthorize the Elder Justice Act (EJA). It should fully fund the EJA and other programs that address elder abuse.
Policymakers should devise Silver Alert programs to alert the public to missing older adults with appropriate protections and limitations.
The subject of an alert must:
States should simplify estate planning. This includes allowing the use of electronic wills or trusts to govern the distribution of property at death.
States should codify, simplify, and clarify trust laws. They should model them on the Uniform Trust Code.