Reverse Mortgage Daily
  • Home
  • About
  • Wholesale Lenders
  • Jobs
  • Awards
  • Advertise
  • Events
  • Contact
  • Data
  • Categories
    • Alternatives
      • EquityKey
      • REX
    • Commentary
    • Counseling
    • Data
    • Events
    • FHA
    • GNMA
    • Gov. Updates
    • International
    • Jumbo Products
    • Leads
    • Legislation
    • Lenders
    • Live Well
    • Marketing
    • MBA Reverse
    • News
    • NRMLA
    • Podcast
    • Products
      • 1st Reverse
      • Bank of America
      • Countrywide
      • Financial Freedom
      • FNMA Homekeeper
      • Generation Mortgage
      • Gold Reverse
      • Golden Gateway
      • Guardian First
      • HECM
      • JB Nutter
      • Liberty Reverse
      • Live Well Financial
      • LLS
      • MetLife
      • Quicken
      • Reverseit
      • Seattle Mortgage
      • Security One
      • Sun West
      • Virtual Bank
      • Wells Fargo
    • Rates
    • Reverse Mortgage
    • Reverse Mortgage Jobs
    • Senior Housing
    • Servicers
      • Celink
      • RMS
    • Technology
      • Bay Docs
      • Mortgage Cadence
      • Reverse Vision
    • Top HECM Lenders
    • Training
    • Warehouse Lines
  • RSS


« Reverse Mortgage News Headlines
NRMLA’s Certified Reverse Mortgage Professional Designation Moving Forward »

Judge Requires Woman To Use A Reverse Mortgage To Repay The State

November 23rd, 2008  |  by admin Published in News, Reverse Mortgage

image WBBM Chicago is reporting an interesting story about a former northwest Indiana town employee who stole nearly $300,000 from the state.  Lake Superior Court Judge Thomas Stefaniak didn’t give Rosemary Barath, 68, of Merrillville, Indiana prison time, in part because she has no prior criminal convictions and has repaid $80,000 of the amount she stole, but he is requiring the woman take out a reverse mortgage.

To help payback the rest of the money, Stefaniak told the former bookkeeper in the Merrillville clerk-treasurer’s office she must obtain a reverse mortgage on her home to pay back the state.  According to the article, Barath also had a bit of a gambling problem and must put herself on a "no trespass" list at all casinos within 50 miles of Merrillville, attend Gambler’s Anonymous meetings two or three times a week, and pay back the money.

I’ve never heard of a judge requiring someone to get a reverse mortgage, but it’s definitely an interesting concept.

Former Town Employee Must Pay 280K

Technorati Tags: Reverse Mortgage,News,HECM,FHA,HUD,WBBM
    Related Posts
  • Reverse Mortgage Helps Town Recover Stolen Funds
  • Senior Hopes Reverse Mortgage Will Cure Delinquent Property Taxes
  • How Much Money Do Mortgage Associations Spend Lobbying?


Leave a Response

blog comments powered by Disqus .


Wholesale Lender Sponsors





Sponsors






Recent Articles

  • Reverse Mortgage Originators Not Clear on New Regulations
  • HUD Releases Reverse Mortgage Counseling Toolkit
  • Have Reverse Mortgage Experience? Lenders Looking to Hire
  • NBC Today: Reverse Mortgage Discussion
  • Google and US Bancorp Team Up for Affordable Housing
  • FHA Raises Annual Premiums Charged to Reverse Mortgage Borrowers
  • Deceptive Reverse Mortgage Advertising Reports in Oregon

Popular Posts

  • Bank of America Paying Entire Upfront MIP on Fixed Rate Reverse Mortgages
  • FHA to Reduce HECM Proceeds and Raise Premiums in October
  • Appropriation for reverse mortgage program unlikely says HUD official
  • New Low Cost Reverse Mortgage Product Coming in October says HUD
  • Fannie Mae to Start Foreclosure Process on Reverse Mortgage Defaults



RSS Reverse Mortgage Jobs

  • Reverse Mortgage Loan Officer
  • Reverse Mortgage Loan Officer
  • Reverse Mortgage Professional (Loan Officer) Massachusetts
  • Reverse Mortgage Professional (Loan Officer) Maryland
  • Loan Officer
  • Reverse Loan Officer & Processor

RSS Reverse Mortgage Events

  • Free webinar: HECM purchase: growing your business
  • Free webinar: HECM purchase/ growing your business
  • Free webinar: Less stress & more loans...
  • Free webinar: Less stress & more loans...
  • Free webinar: Less stress & more loans...

©2010 Reverse Mortgage Daily
Powered by WordPress using the Gridline Lite theme by Graph Paper Press.