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Seniors Alert: AARP Virgin Islands Files Reverse-Mortgage Lawsuit
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St. Thomas Source
AARP Virgin Islands is informing the community of a newly filed nationwide class action lawsuit alleging that several major reverse-mortgage companies charged illegal and prohibited fees to older Americans with federally insured Home Equity Conversion Mortgages.
Although the case was filed in New York, the issues raised may directly impact older homeowners here in the U.S. Virgin Islands.
AARP Virgin Islands Urges Local Homeowners to Review Their AccountsAARP Virgin Islands encourages anyone with a reverse mortgage to:• Check their loan statements for unexplained or escalating fees.
• Contact local HUD-approved housing counselors, Legal Services of the Virgin Islands, or the Office of the Lieutenant Governor – Division of Banking, Insurance & Financial Regulation for help.
Protecting older Virgin Islanders, especially those striving to age with dignity in their homes, remains our top priority