The Real Deal Miami

A foreclosure reversed, with help from CFPB

By Kenneth Harney | March 01, 2013 01:00PM

Jeanette Ogle, a 92-year-old widow with a reverse mortgage on her house, got a huge birthday surprise last week: She did not lose her home at a scheduled foreclosure auction that had drawn scrutiny from federal and state agencies and consumer advocates.

Because of obscure federal rules that critics say have snared unwitting elderly homeowners across the country, Ogle’s home in Lake Havasu City, Ariz., had been set for foreclosure on Feb. 27, her birthday. But after interventions on her behalf by the Federal Consumer Financial Protection Bureau, AARP and the Arizona Attorney General’s office, the auction was canceled. [more]