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

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The insurance guarantees lenders that they will be repaid in full when the home is sold. Other types of reverse mortgages exist too-they’re called proprietary reverse mortgages-which are private loans backed by the companies that develop them. Proprietary reverse mortgages are usually available only for very high-value homes.

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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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Reverse-mortgage fails not a factor in Florida’s stubbornly high foreclosure rate – In early June, HUD identified nearly 15,000 out of the 85,000 Floridans with reverse mortgages as being "in danger of losing their homes in the coming years." These "at-risk" reverse mortgage holders.

“The Starkville Police Department will not tolerate violence of this nature in our community and will ensure that justice is served.” Anyone with information related to the case is asked to contact.

Foreclosures are down nationwide since last spring but not in Florida, where foreclosure filings increased by 23 percent this May compared to May 2018, according to ATTOM Data Solutions’ May 2019.

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.

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