Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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Not sure if it effects this particular case but they have once again suspended foreclosures due to covid 19 legislation. |
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#17
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Why doesn't a neighbor just go there with their mower and do the darn lawn???
They certainly have time to sit at their computer and bitxx about it. It would take...what, maybe 20 mins? I'm not saying do a full landscape job...just a mow...then when all these appalled neighbors drive by, they can now smile. And before you say..why don't I do it.....I do own in that area, unfortunately stuck in allot of snow up north....otherwise, I would. |
#18
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I walk by that house daily and it’s not falling down in disrepair as so implied and other than grass it’s a decently nice looking place so I’m sure there is a good resale value , can’t speak to the inside but outside looks fine so perhaps looking at something before reading an article that maybe the writer hadn’t seen would be in order
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#19
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Facts did not fit the OP's agenda, so fiction gets posted.
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Identifying as Mr. Helpful |
#20
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I have no issue with it. Why don't you take your own advice?
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#21
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The current system (as discussed here in this thread) seems to have POTENTIALLY terrible problems for the individuals and the whole society. It is costing society and the close neighbors a lot of money and suffering to resolve. If the private for-profit system can not fix a problem. Does that NOT (?) leave ONLY the government as the problem-solver of LAST resort? |
#22
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My 2 cents. This is not a reverse mortgage problem. It is a "who is going to take care of things when I die" problem. This person could have a million dollars in the bank and if nothing is in place to take care of the property nothing will be done.
I was a licensed real estate agent and witnessed properties in disrepair after the owner died. Even getting a bank to take care of basic maintenance was often a hassle. When the real estate market took a dive things were worse. And - unless I am misinformed - people who have reverse mortgages are required to have insurance on those loans. I think the cost of the insurance is less than the government has to pay out and there are proposals to correct this. (Similar to any insurance, your premium goes up if the insurance company pays a lot of claims.). Of course, who knows when it will be corrected. Again, putting reverse mortgages aside, anyone's property can fall into disrepair when they die. I think this problem is compounded by (in most cases) living away from family.
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New York, California, Pennsylvania, Florida Last edited by BogeyBoy; 02-16-2021 at 01:25 PM. |
#23
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#24
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#25
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Reverse Mortgage
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#26
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The answer is either a foreclosure sale or a tax sale, because I believe that there are no relatives to which the complaint can be complied. So without relatives, or a proper will and/or estate, the courts need to used to resolve the ownership issue. .
So what would be the process of someone with no heirs, with plenty of resources, no mortgage and the taxes and amenity fee on autopay or autobill and pay? These are the issues which automation is not equipped to solve, but to perpetuate because automation solves a convenience issue for the living. technology guy |
#27
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You must be a lender, lenders are the only ones I have ever met that actually Jenifer from these loans.
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#28
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#29
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"Wrongful reverse mortgage foreclosures are at a crisis stage, and there are very few if any protections from the bad practices of the servicers. And the lack of any meaningful oversight from HUD only makes things even more dangerous for seniors. Here are just some of the reverse mortgage horror stories that have been experienced by Florida’s elderly population: • A mortgage company filed a mortgage foreclosure against a 92-year-old woman for failure to pay 27 cents after first suing, claiming wrongly she did not live in her home of 40 years. • An 80-year-old homeowner agreed to a repayment schedule for missed insurance payments — but foreclosure was filed anyway • A 76-year-old homeowner repaid insurance and tax payments, yet the bank found a new reason to foreclose. • An 84-year-old homeowner was accused of not living in his home when he is wheelchair-bound and almost never leaves it. The widower, who has extreme difficulty hearing because of his age and health issues, was sued based on a wrongful allegation that he no longer lived in the home. The bank would not accept an affidavit from him and his daughter/caretaker as proof he lived in the property and insisted on taking the case to trial, further wasting judicial resources. The case was eventually dismissed. • An 82-year-old homeowner was accused of not living in his home during the time a separate department of the same bank was in regular communication with him. • A 75-year-old widow faced foreclosure for purportedly no longer occupying the property. Her bank demanded she fill out and return an “occupancy letter” — which she did. She was also in regular contact with the bank regarding her insurance. Despite all of this, the homeowner was sued anyway. • A 73-year-old widow lost her home to foreclosure because one word was missing from one page of her loan documents. She and her husband took out a reverse mortgage; her husband wanted to safeguard the family home after he passed away. Instead, because the word “borrower” was missing from one page of dozens of mortgage documents, she lost her home. Jim Kowalski is the CEO of Jacksonville Area Legal Aid." From: Guest Column: Reverse mortgages can backfire on homeowners - Opinion - The Florida Times-Union - Jacksonville, FL
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
#30
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Sharpen the ax you grind. It is getting dull. Last edited by Joe V.; 02-16-2021 at 04:41 PM. |
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