about reverse mortgage foreclosures. The article included a heat map of the areas hit hardest by these foreclosures down to zip code level. According to the map, some neighborhoods in Baltimore have a foreclosure rate higher than 20 foreclosures per one thousand senior residents.
The article points out that these foreclosures siphon money out of communities. It also makes the connection between the areas hardest hit by redlining and the areas hardest hit by reverse mortgage foreclosures.
Reverse mortgages can be a lifeline for seniors struggling to age in place, but MVLS has seen many problematic foreclosures for issues with property taxes and forced-place insurance. Reverse mortgages also strip communities of wealth and prevent inter-generational wealth transfer.