[Dr Winston O Boogie jr]

Originally Posted by Alaskarose

I wish those "lenders" who end up foreclosing on all those reverse mortgages were required to abide by the covenants that we are held to. It seems that they can foreclose on the property and then just sit on it for years and years while the building and the yard become an eyesore.

I think that it's more the process that takes time. What reason would a lender have for just sitting on a piece of property? I'm sure that they want to sell it and get as much of what they lost out of it as soon as possible.

If I'm not mistaken, they have to go through the court system before they can take possession. Until that process is completed, ownership of the property is in limbo.

If you see a property that is not being maintained, you can call The Villages. They will have someone come out and cut the grass and trim the shrubs and put a lien on the property for the cost.