High 87F. Winds light and variable.. Tonight.. Reverse-mortgage fails not a factor in Florida’s stubbornly high foreclosure rate. Reverse-mortgage fails not a factor in Florida’s stubbornly high foreclosure rate. Sports
Reverse-mortgage fails not a factor in Florida’s stubbornly high foreclosure rate Foreclosures are down nationwide since last spring but not in Florida, where foreclosure filings increased by 23.
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Reverse-Mortgage Fails Not a Factor in Florida’s Stubbornly High Foreclosure Rate Reverse-Mortgage Fails Not a Factor in Florida’s Stubbornly High Foreclosure Rate – Foreclosures are down nationwide since last spring but not in Florida, where foreclosure filings increased by 23 percent this.
Say the total debt owed is $200,000, but the home sells for $150,000 at the foreclosure sale. The deficiency is $50,000. In some states, the lender can seek a personal judgment against the borrower-or the borrower’s estate-to recover the deficiency after a foreclosure. However, deficiency judgments are not allowed with HECM reverse mortgages.
The sustained pattern indicates more than 330 Floridians with reverse-mortgages lose their homes in foreclosure a year – significant if you are a reverse mortgage holder, but not a big enough number to affect the state’s overall foreclosure rate.
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Reverse-Mortgage Fails Not a Factor in Florida’s Stubbornly High Foreclosure Rate Foreclosure news. reverse-mortgage fails Not a Factor in Florida’s Stubbornly High Foreclosure Rate – sunshine state news. usa today illuminates the Impact of Reverse Mortgage Foreclosures on Southern Dallas – D Magazine. How the GSEs Are Preventing.
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