Video: Troubling foreclosure numbers

updated 9/6/2007 8:30:47 PM ET 2007-09-07T00:30:47

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Jul 9, 2011 . But as South Florida's first reverse mortgage fraud case shows, . that defrauded a major lender, the federal government and 14 seniors.

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The interest rate and all of the fees are government regulated. The Reverse Mortgage Education Project was created as a safeguard, where seniors are required .

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Feb 2, 2011 . Florida's reverse-mortgage-default rate stands at about 8 percent, compared . Federal housing officials and government-certified counseling .

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Apr 20, 2012 . (Source: Donna Gehrke-White Sun Sentinel, Fort Lauderdale, Fla. . with the federal government after they were convicted of defrauding elderly borrowers. . A reverse mortgage allows borrowers, who are at least 62 years of .

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value, either the lender or the federal government [in the case of a Home Equity Conversion Mortgage. (HECM)] absorbs the loss. Once the reverse mortgage is .

HECM Tenure Payments - Florida Reverse Mortgage Lender
Apr 6, 2008 . Fixed Rate Reverse Mortgage - Florida · Reverse Mortgage . On a HECM the monthly payments are guaranteed by the Federal Government.

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