Florida Senator Marco Rubio is part of a bipartisan push that would protect Florida Seniors from possible evictions in certain scenarios involving reverse mortgages. Reverse Mortgages is a tool used in the retirement community that pulls equity from the home in exchange of regular payments. Often times when the Spouse of a homeowner dies, the survivor is left with the loan possibly facing eviction.
Rubio, along with Democratic Nevada Senator Catherine Cortez Masto sent a letter Urban Development Secretary Ben Carson and Office of Management and Budget Director Mick Mulvaney to encourage that language in the President’s recently submitted budget includes language to protect those surviving spouses.
“Given the gravity of potential changes to this law, we therefore request a written response outlining the rationale underlying this proposed change. We also urge that you continue to ensure that widows do not face eviction in these circumstances,” reads the letter.