A little over an hour’s drive from Tampa, this gated community now has 1,300 homes, 36 holes of golf, waterfront lake lots and country club amenities. The homes range from about $200,000 to $270,000 in price and up to 2,500 square feet in size.
But it’s not the homes that drew my attention. It was the use of purchase-money reverse mortgages as a marketing tool. If you are 62, or older, you can now buy a home with a large down payment— that “around 50 percent” figure— and never make a mortgage payment on the remaining amount of the purchase price
Regards,
Ted
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