HomeSafe helps Senior Narrowly Escape Foreclosure

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HomeSafe recommends readily-available, but often overlooked loan program, that saves a retired woman's home from foreclosure.

Ms. Smith* was losing her home. After the El Nino weather patterns of the late 1990s and a lack of maintenance, her house was left uninhabitable and nearly became condemned. Her home insurance provider refused to pay for repairs to her home leaving her with few options to retain her Anaheim, Calif. home. Resigned to living in the only habitable part of her home, Ms. Smith did not have much choice on the fate of her home. Eventually, due to the state of her property, the city of Anaheim put Ms. Smith’s home into receivership. She watched as the city tore down part of her home and even put her in jail for having illegal building permits. Ms. Smith was unable to afford the repairs to her property, therefore the city decided to take control of her property and make the repairs. During this time, the city put Ms. Smith up in an apartment while they made her house habitable again. After the repairs were completed, Ms. Smith returned home, though a lien was now placed on her home. However, living on a fixed income, and unable to make payments on the new lien, she watched her house head to foreclosure with no way to pay off the lien. One option she had heard about, but was skeptical of, was a Reverse Mortgage. Ms. Smith made a call to HomeSafe in January to learn more about a solution that could help save her home.

Tom Short, agent for HomeSafe, spoke to Ms. Smith that evening and assured her a Reverse Mortgage was a viable solution to her situation. “I explained that she had a lot of wealth stuck in her home, but just couldn’t access it. The Reverse Mortgage would allow her to secure her home without monthly payments until she ceased to live there, while still retaining full ownership and the ability to pass the home to her heirs,” Short said.

Not long after they first spoke on the phone, Short scheduled a meeting with Ms. Smith to discuss her possibilities further. “I realized that she needed some help in this difficult situation and that she needed it fast or she would lose her home. I was determined to make sure we could help her retain the ownership of her home,” Short explains.

Over the next few months, Mr. Short attended six court hearings with Ms. Smith to prove to the court that a Reverse Mortgage could cure the default, prevent the foreclosure, and would be able to pay off the lien on her property. “The entire process was much longer than normal due to the complication of pending foreclosure, but I take pride in knowing that I was able to help her stay in her home and become comfortable in retirement.” Short says.

Short was able to succeed in preventing the foreclosure and helped to restore safety and peace of mind to Ms. Smith. Now in a newly rebuilt and remodeled home with no monthly mortgage payment, Ms. Smith only needs to pay her property taxes and insurance. After all she has been through, and by coming so close to losing her home, the peace of mind she now has is priceless.

*Client’s name has been changed for privacy reasons.

About HomeSafe and Crossmark Financial:
Crossmark Financial (DBA “HomeSafe”) is a dedicated to assisting homeowners understand Reverse Mortgages and how to structure them in order to maximize their cash flow during their retirement years. The first step is always to simply learn about the program, which is made easy with their great guide and workbook and can be had for free through their website ( or by phone request at (866) 897-0839.


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Bryon Pyle
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