On March 20, 2009 Help Senior Homeowners, A Non-Profit Counseling Service, Inc. was incorporated with the sole mission of stopping foreclosures on senior homeowners who were short on equity to qualify for a reverse mortgage. We appealed to our government to at least put a moratorium on foreclosing on senior citizens, age 62 and older, until something sensible could be implemented.

What We Did. We sent over 4,000 hand-signed letters by postal mail to government officials and big banks pleading with them to do something to help our senior citizens facing foreclosure. Personalized letters were sent to President Obama and all his staff, Barney Frank and all his staff, all State Senators and Members of Congress in every State. 

We Received 3 FORM LETTERS. One from the President, the Vice-President and our local Congressman. None of them had anything to do with the reason why we wrote the letters.

Solutions that would not cost taxpayers anything and prevent foreclosing on seniors.

 America HAS Choices
1. Raise the amount of money available from a reverse mortgage by 30%.
2. Offer FHA insurance on a 2nd mortgage behind the reverse mortgage, greatly reducing the seniors monthly payment.
3. Doing nothing guarantees more foreclosures, deteriorating local tax bases and displaced Senior Citizens, all of which will place even more pressure on government funded social programs.

The Immediate Economic Benefit This will help stabilize values in local neighborhoods and bolster the national real estate market by preventing imminent foreclosures on seniors.

We at least tried to make a difference in the lives of our aging population!

Being Elderly and Broke is Frightening Enough,
Being Elderly and Homeless Must Be Terrifying!
Our economy has put many of our most vulnerable citizens, our elderly, at risk of homelessness.
More than 600,000 Senior Citizens are in foreclosure or behind in their mortgage payments.

Our government should place an immediate moratorium of all foreclosures on senior citizens.

If current trends continue thousands of senior homeowners will lose their homes to foreclosure in the next few years. The economic upheaval has shattered many seniors' retirement plans and has severely cut into the incomes of millions of older Americans who have already retired.
Our older Americans are being affected at a time in their lives when it is virtually impossible to recover. Reverse mortgages are the answer for many, however, about 30% of 12 million seniors who might have qualified for a reverse mortgage a few years ago no longer have enough equity in their homes to qualify for this program.

Why would banks foreclose on seniors and add to their exploding inventory of unmarketable homes. We thought banks would be happy to accept the proceeds from a reverse mortgage (short payoff) and hold a serviceable note for the difference (Insured by FHA), behind the HUD reverse mortgage loan.

The banks and the seniors would then be in a better position to recover all their money when the market stabilizes. It would have been a winning situation for both parties.

Throughout History Societies are Largely Judged by How They Treat Their Elders

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