Dorothy Leong, 81, is facing foreclosure on a home she has owned for decades because of a dispute over $491 in unpaid taxes and insurance. Photo: Jessica Hill, The Washington Post.

 

The U.S. Department of Housing and Urban Development launched its reverse mortgage program in 1989, and seniors started to embrace the loan in the tens of thousands starting in 2005. But defaults and deceptive marketing have marred the program since its inception. The government has issued dozens of letters clarifying or amending the program.
Here’s a timeline of some of the major events: