Florida court puts default judgment in reverse on case gridlocked after lawyer was stuck in traffic
ABA Journal Daily News
ABA Journal Daily News
The Federal Housing Administration's 2018 audits revealed that losses from real estate reverse mortgages destroyed about a third of the taxpayer-guaranteed insurance reserves. The FHA Mutual Mortgage Insurance Fund on November 15 reported an $ 8 billion profit with a $ 1.26 trillion portfolio of loan guarantees for the fiscal year ending September 30. FHA's […]
Reverse mortgages have downsides, including equity-reducing fees and potential financial burdens to heirs – not to mention running out of equity before you run out of expenses. Consider these alternatives to a reverse mortgage before you commit. Foreclosure News
In July, just 4.1 percent of mortgages nationwide were past due, CoreLogic's latest Loan Performance Insights Report shows, and 0.5 percent were in foreclosure-the latter the lowest share since 2006. According to the report: “With the national unemployment rate remaining below 4 percent since July, further declines in U.S. delinquency rates are likely in coming […]
The North Carolina Commissioner of Banks recently amended its rules governing mortgage lenders, brokers, servicers, MLOs, and mortgage origination support registrants under the North Carolina Secure and Fair Enforcement Mortgage Licensing Act and reverse mortgages. The amendments took effect on August 1, 2018. Foreclosure News
Florida Housing Finance Corporation , Fannie Mae and the Florida Department of Elder Affairs , are partnering together on the Elderly Mortgage Assistance Program to assist owners who have reverse mortgages with tax and insurance payments. Homeowners who meet specific qualifications may be eligible for a two-year forgivable loan of up to $ 50,000. Foreclosure […]
Fannie Mae released an update to the Reverse Mortgage Loan Servicing Manual on September 18, 2018, relieving servicers of post-foreclosure sale responsibilities. The new changes are related to the servicer requirement to pay ground rents, co-op fees and assessments, and property taxes on Fannie Mae's REO properties. Foreclosure News
We talk about retirement planning a lot here on the Quicken Loans Zing Blog, but one thing people may not consider as much is that for some people your home is actually your biggest asset. If it's in line with your financial goals, you can absolutely use your home equity in retirement in order to […]
The impression conveyed by numerous press accounts, including a recent article by Alfred Lubrano in the Philadelphia Enquirer, is that reverse mortgages are unduly risky. Here are the major themes of the article: The obligations of reverse mortgage borrowers are very clear. Foreclosure News
Masjid Al Aman, a mosque and community center that has served thousands of residents in the City Line section of East New York for over 25 years, is the latest house of worship on the path to foreclosure due to an improper denial of property-tax exemption under the state law that mandates charity organizations pay […]