Reverse-Mortgage Fails Not a Factor in Florida’s Stubbornly High Foreclosure Rate

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Beneficial Reverse Mortgage Foreclosure Florida 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.

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Reverse-mortgage fails not a factor in Florida’s stubbornly. – 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.

Reverse-mortgage fails not a factor in Florida’s stubbornly high foreclosure rate Severe weather possible in ArkLaTex late Wednesday Texas to spend $1 billion on border security

Reverse-mortgage fails not a factor in Florida’s stubbornly high. – Foreclosures are down nationwide since last spring but not in Florida, where foreclosure filings increased by 23 percent this May compared to. Reverse Mortgage Rules & Requirements. This is primarily due to rules and regulations set by the Federal Housing Administration (FHA).

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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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