Reverse Mortgage Foreclosure Gets Reversed by Florida Court
- October 1, 2015
- Thomas Adam
- Foreclosures
Reverse Mortgages, also called “home equity conversion mortgages” or “HECMs” allow older homeowners to obtain monthly payments from a lender based on the equity in their home. The homeowners don’t have to pay any payments on this loan until they move or pass away. Reverse mortgages are heavily promoted and utilized in Florida. In late July, Florida’s Third District Court of Appeal (“Third DCA”) in Smith v. Reverse Mortgage Solutions, Inc., issued an opinion that helps prote[...]