By Kenneth Harney | The Washington Post
Jeanette Ogle, a 92-year-old Arizona widow with a reverse mortgage on her house, got a huge birthday surprise last week: She did not lose her home at a scheduled foreclosure auction that had drawn scrutiny from federal and state agencies and consumer advocates.
Because of obscure federal rules that critics say have snared unwitting elderly homeowners across the country, Ogle’s home in Lake Havasu City had been set for foreclosure on Feb. 27, her birthday. But after interventions on her behalf by the federal Consumer Financial Protection Bureau, AARP and the Arizona attorney general’s office, the auction was canceled.
In a letter to Ogle, the company that ordered the foreclosure, Reverse Mortgage Solutions Inc. of Spring, Texas, said it changed its plans and is now “committed to allow you to remain in (your) home” and will “take no action to displace you as long as the mortgage agreement … is not in default.”
