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Chicago Law School Receives Reverse Mortgage Ed. Grant

The John Marshall Law School in Chicago received a more than $34,000 grant to help fund its continuing reverse mortgage education programs for the public.

The school’s Fair Housing Legal Support Center and Clinic runs the Reverse Mortgage Project — Suburban Outreach Initiative, which hosts educational events and provides other informational services to potential reverse mortgage borrowers in the southern and western suburbs of Chicago. Eight public presentations are scheduled this year under the initiative.

“I am looking forward to the opportunity to the opportunity to take our ongoing reverse mortgage awareness program to audiences outside the city of Chicago,” said R. Dennis Smith, project manager for the school’s Fair Lending and Home Preservation Law Project, in a statement. “Reverse mortgages are neither good nor bad, but they are much more financially complex than the simplistic impression about these loans left by commercial advertising.”

John Marshall received the grant from the Retirement Research Foundation, a Chicago-based group that advocates for seniors. The school said it also plans to use some of the funding to study reverse mortgages’ role in estate planning and home ownership.

Written by Alex Spanko