Which documents should you save once your mortgage is paid in full? 

Q: I have a small condo I just paid off. After watching your Expert Real Estate Tips YouTube Channel, I contacted my mortgage company requesting documentation. The only documents they provided were a letter stating the loan is paid in full and a certificate of satisfaction of the mortgage.

Are these two documents all I need to prove that I paid off my mortgage or do I want them to give me anything else? Do I need to keep a copy of the title insurance for my records? Is it still valuable? And, is it safe to shred the loan application and any documents relating to the loan?

A: Here’s some good news: Your lender gave you just about everything you need. The lender told you that your loan is paid in full and gave you the documentation stating that the lien or trust deed on your property has been released.

Source: Which documents should you save once your mortgage is paid in full?

A Look at Who Didn’t Pay Their Rent This Month

In its debut rent tracker report, the National Multifamily Housing Council reported that 69% of households had paid their rent, either partially or in full, by April 5, compared to 81% that had paid by March 5, 2020. The rent tracker is based on data from 13.4 million rental apartments. The association has partnered with several firms to create this metric, including RealPage, Yardi and Entrata. This increase in nonpayment comes as little surprise given the millions of people thrown out of work over the pa

Source: A Look at Who Didn’t Pay Their Rent This Month

Coronavirus Florida: Real estate deals in peril amid buyer fears – News – The Palm Beach Post

With the onset of the pandemic, real estate agents say deals that were in the works are encountering all types of problems, creating havoc in the market as buyers try to back out of contracts. But can buyers cancel due to COVID-19? Real estate lawyers said there isn’t a clear answer.

Real estate agent Kevin Dickenson’s clients had a deal to sell their $3 million Boca Raton house in March.

Then the coronavirus pandemic exploded, and suddenly the home’s buyer announced he wanted out.

Did the sellers let the buyer walk?

Source: Coronavirus Florida: Real estate deals in peril amid buyer fears

Can a Reverse Mortgage Impact Your Social Security or Medicare Benefits?

Ask U.S. retirees what worries them most — as a recent survey by the American Institute of CPAs just did — and “running out of money” is the answer that will most likely top their lists.  But homeowners over 62 who have substantial equity in their properties have an extra tool at their disposal that can minimize that anxiety. A reverse mortgage will allow them to extract that equity by delivering funds that could keep them calm and out of financial trouble. But could the payments from a reverse mortgage

Source: Can a Reverse Mortgage Impact Your Social Security or Medicare Benefits?

For some residents, one home at Naples Reserve isn’t enough

Naples Reserve residents have realized that something special has been created in their South Naples community, developed by iStar and consisting of 688 acres that feature Southern Coastal-inspired attached villa, single-family and custom estate homes. A dozen couples have fallen in love with Naples Reserve so much that they’ve purchased not one but two homes in the award-winning community.Randy Sparrazza and his wife, Lucy, originally moved from a Naples condo into a D.R. Horton home in the Savannah Lake

Source: For some residents, one home at Naples Reserve isn’t enough

Dorian takes multi-million-dollar bite out of tourism in Volusia and Flagler

When Hurricane Dorian brushed by Volusia and Flagler counties last week without causing major property damage, residents felt a sense of relief. But the storm’s effect has been quietly brutal for hotels, restaurants, attractions and other businesses tied to the area’s tourism economy. While no one has an exact figure, area experts believe the loss to hotels alone amount to tens of millions of dollars. Add in restaurants and their employees, and the losses are much greater. “It’s huge,” said Rob Burnetti,

Source: Dorian takes multi-million-dollar bite out of tourism in Volusia and Flagler