Local Spotlight: Reverse Mortgages in Florida – Reverse Mortgage Daily

An appropriate number of guys were arrested when a fight broke out at a Five Guys restaurant in Florida on Wednesday. Police apprehended three juvenile males and two adult males – a total of five guys.

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CHICAGO, Jan 5 (Reuters) – One ticket matching all six numbers was sold in Florida in the Mega Millions lottery jackpot of an estimated 0 million, the fourth largest in the game’s history, the.

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More: Reverse mortgages: 15,000 older Florida homeowners at risk of foreclosure and homelessness. More: Avoiding foreclosure on your reverse mortgage: Florida residents can get help

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But Florida’s housing market is projected to do very. but the economy remains healthy, so the drop in mortgage rates should stem or even reverse the slide in home sales that occurred during the.

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Florida remains the retiree capital of the United States. No personal income tax, warm weather and plenty of sunshine drew nearly 78,000 retirees to the state in 2015 alone, according to the most recent U.S. Census migration data. That’s 50,000 more retirees than Arizona, the second state on the list. Regional Stats:Total FL Population: 21.3 [.]

In case you missed it: Reverse mortgages: 15,000 older Florida homeowners at risk of foreclosure and homelessness And: Reverse mortgages: Heirs can lose out when there’s a reverse mortgage on a.

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To aid in this process, you must meet with a Miami-Dade county reverse mortgage counselor to discuss program eligibility requirements, financial implications and alternatives to obtaining a Florida reverse mortgage and repaying the loan. Counselors will also discuss provisions for the mortgage becoming due and payable.

Origination Fee. For homes worth more than $125,000, the lender is allowed to charge 2% on the first $200,000 and 1% on the value of the home above $200,000, for a maximum of $6,000. Again, there’s a lot of information to digest here, so let’s consider a reverse mortgage example or two.

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For example, at the end of September, her firm debuted the industry’s first and only "second-lien" reverse mortgage, which is designed to allow owners who have low fixed rates on a first mortgage.