Talk of The Villages Florida - View Single Post - Run Down Reverse Mortgage Houses
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Old 06-07-2013, 11:57 PM
Dr Winston O Boogie jr's Avatar
Dr Winston O Boogie jr Dr Winston O Boogie jr is offline
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Quote:
Originally Posted by gomoho View Post
So my husband and I took a ride this afternoon to see for ourselves just what is going on in Silver Lake. I am pleased to report the historic section is alive and well and Harold Schwartz would be proud EXCEPT for a few bad eggs like any other neighborhood.

In the OP's defense if these homes "with the white signs in the window" were in my neighborhood I would be beside myself as well. I was absolutely shocked that this has been allowed to go on in The Villages.

I have a feeling they are foreclosures though and not reverse mortgage situations because I believe when you contract a reverse mortgage you actually sell the property to the company providing such so there would be no question of ownership or how it can be disposed of. They in turn would want to sell asap to limit their exposure on the property and the carrying costs involved.
I agree. I live in Silver Lake and I don't see this horrible widespread blight that the OP is talking about. Yes, there are a few houses here and there that have been foreclosed on, but I've never seen trees growing through roofs.
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