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Reverse mortgages are a popular way for seniors to access needed funds. In a reverse mortgage, you are, in essence, incrementally selling your home back to a lender with the proceeds set up as a line of credit.
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NY Law Requires New Pre-Foreclosure Notice for Reverse Mortgages
ByadminOn April 12, 2018, the New York legislature enacted and Governor Cuomo signed, Assembly Bill 9508, a budget bill. Obscured in the budget bill was an amendment to New York law requiring reverse mortgage servicers to provide a pre-foreclosure notice at least 90 days before the mortgage loan servicer commences legal action against the borrower…
Most US Homes Are Worth Less Than Before the Crash
ByadminYou can't blame a homeowner in Fresno, California, for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno's housing market is stuck in a rut. Foreclosure News
Toby Moskovits is fighting off a foreclosure auction at 564 St. John’s Place
ByadminHer project at 564 St. John's Place in Crown Heights, where she is planning a 193-unit luxury rental building, is allegedly in default, and a foreclosure auction is currently set for 3 p.m. on July 31, according to Commercial Observer. Moskovits and her partner Michael Lichtenstein received an $ 89 million refinancing on the project…
August 26, 2018 ] Collections lag cited as reason for tax change News
ByadminThe decision not to offer Tax Administrator Cindy Lowry the two-year contract extension she wanted was apparently based on the county's tax collection rate, but at least one commissioner believes her hands were tied in that pursuit. It was announced during Monday's commissioners meeting that Lowry, who has been the tax administrator since 2008 and…
Nonprofit that offers mentoring to law school applicants seeks more volunteers
ABA Journal Daily News
Land bank effort to fight blight ahead of schedule
ByadminDavid Mann, Land Bank president and CEO, provides a community update on its plan to renovate or demolish 1,500 properties in 1,500 days which was launched in July 2016. Dennis Kennedy, center right, City of Toledo's Division of Code Enforcement manger, shakes hands with Toledo City Councilman Peter Ujvagi, center left, while Stephanie Shackelford, projects…