Reverse Mortgage in Florida – Shipp Law Legal Blog

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However, if the owner fails to pay insurance and property taxes, the reverse mortgage is deemed in default and the owner is in danger of foreclosure. Success, and failure. For many retirees, such as 73-year-old Robert Lee White of Fort Lauderdale, Fla., a reverse mortgage can be.

In Probate. A reverse mortgage is a means for eligible homeowners to tap into the equity in their homes to meet retirement expenses. To qualify, you must be age sixty-two (62) or over, occupy the property as your primary residence, and own the home outright or have sufficient equity in the home.

Reverse mortgages: 15,000 older Florida homeowners at risk of foreclosure. Melanie Payne, Naples Daily News Published 6:00 a.m. ET June 12, 2019 | Updated. The retired agricultural worker hired a lawyer and the case was dismissed.

 · A reverse mortgage takes the equity in your home and uses this to create an income for you in the form of one or many payments. The payments are based on a portion of the equity of your home. It can be a slow and steady way to take the money that you invested in your house out as cash.

The mortgage laws in the state of Florida cover all aspects of acquiring and possessing a home mortgage loan. These laws cover the different types of mortgages that are available, the process of obtaining a home equity loan, the various agreements associated with obtaining a mortgage, the transfer of a mortgage title, and power of sale.

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The Law Office of Ryan S. Shipp, PLLC provides services including the reviewing of real estate contracts, negotiating, real estate closings, drafting documents affecting real estate, mortgage foreclosures and foreclosure defense, landlord-tenant disputes, Florida evictions, quiet title, ejectments, Florida HOA & COA disputes, partitions, and the lending of private money and hard money.

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Adams, who could lose his license to practice law, said Monday that the decision to sell had nothing to do with a bruising battle to clear his name. "The sale of my home is absolutely not related to.