Local Spotlight: Reverse Mortgages in Florida – Reverse Mortgage Daily

Reverse Mortgage Myths | The Truth about Reverse Mortgages | Part 1 . information about reverse mortgages these days, but that is still what people remember.” And it’s not just about the product’s reputation – it’s also about whether they’ll need a reverse mortgage.

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Many reverse-mortgage borrowers think there will be money left over. More: Reverse mortgages: 15,000 older Florida homeowners at risk of.

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Lenders foreclose and borrowers lose homes.. Reverse mortgages: 15,000 older Florida homeowners at risk of. the Florida ZIP codes with the highest rates of reverse mortgage. Technical defaults, as they are called, could be avoided with state and local programs to help seniors, Jolley said. There.

For example, doing a financial assessment on the borrower will help, because about 10 percent of reverse mortgages were going into foreclosure because people couldn’t afford to pay their taxes and insurance, Linton says. They were living on Social Security, taking out loans and using up the money.

Whether you’re looking to purchase, refinance or join our team you can find everything you’re looking for here!local spotlight: reverse mortgages in Southern California – It’s no secret that the reverse mortgage industry took a hit after the U.S. Department of Housing and urban development implemented hecm program changes in October 2017.

But in Texas, the company has never been the subject of disciplinary issues by the state’s Department of Savings and Mortgage Lending. Celebrity TV spots pushing reverse mortgages are everywhere.

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Due to these losses, reverse mortgages have become a drag on the FHA insurance program, called the Mutual mortgage insurance fund. hud reported, followed by Florida, New York and Texas. Loans.