Florida Man Pleads Guilty to Mortgage Loan Mod Scam  · A 53-year-old Detroit man has pleaded guilty to seven felonies in a mortgage assisted scam with more than 100 victims that was headquartered at his Southfield-based company.

Josh Goldfarb and John Carr of Cushman & Wakefield’s Southeast Multifamily Advisory Group represented Passco and the seller, Bridgeview Louetta LLC. Chris Black and Caleb Marten of KeyBank Real Estate.

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One such state that’s a common destination for older Americans is The Sunshine State, Florida. Whereas the median age per state in America is 37.9, as of 2016, Florida is the fifth highest at 42.1.

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Private reverse mortgages, such as jumbo reverse mortgage loans, make up the rest of the market. With any reverse mortgage, there are no restrictions on the use of funds. The funds come from the equity available in the property. Equity is the money you have tied up in your home. To calculate, subtract any existing loans by the value of the property.

Kirkpatrick is the CEO of San Clemente based Multi-Units Management. Reza Jahangiri, CEO of American Advisors Group, will serve National Reverse Mortgage Lenders Association as co-chair of its 2017.

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