Florida Reverse Mortgages. Floridians are increasingly turning to Reverse Mortgages to help them stay in their homes during retirement. The number of HECM reverse mortgage loans in Florida has increased 35% since 2014. 1 As one of the largest reverse mortgage lenders in the nation, Liberty Home Equity Solutions, Inc. (Liberty) has helped more than 1,100 Florida homeowners since 2011 2 discover.
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You can get a reverse mortgage if you own a condominium, as long as it is your principal residence. Reverse mortgages are not limited to single-family detached homes. Read on to learn more about how reverse mortgages-including the FHA’s Home Equity Conversion Mortgage, as well as proprietary reverse mortgages-work.
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TAMPA – A Largo mortgage. two small-time Florida investors who lost a total of more than $350,000. Tsavaris, 67, was not licensed to sell securities, court records show, and the ones he peddled.
· However, reverse mortgage loans can be an excellent financial opportunity for senior homeowners who qualify. Reverse mortgage loans allow homeowners age 62 and older to tap into the equity they have built up in their home as another source of income. The benefits of a reverse mortgage loan are both abundant and personal.
Regardless of legal niceties. 2,000 in Florida alone – involving recently filed mortgage assignments which ostensibly transferred mortgages to these trusts years after they were formed. The problem.
The Virtues of private reverse mortgages february 1st, 2011 Banks have been touting the advantages of so-called "reverse" mortgages for many years as a way for cash-strapped seniors to tap into the equity in their homes to meet their expenses, whether simply for day-to-day living or to pay for the increased costs of home care.
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No decision about obtaining a reverse mortgage should be made without a consultation with a knowledgeable reverse mortgage specialist or financial planner. It’s also a good idea to check with an elder law attorney before you sign on the dotted line, to make sure the plan still makes sense if you and/or your spouse will need nursing home care in.
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