Property Detail

1000 River Reach Dr

Fort Lauderdale FL 33315

$95,000

Status: Active

Property Details

Description

DISCLOSURE - Buyer is paying $95K for the future option to pay 95% of the appraised value to HUD in the future. Not now as there is No pending action and HUD paying property taxes currently as well. This is a HUD HECM Law to protect homeowner on title. HUD HECM loan with max principle owed $291,000 that matures in 2087. HECM lenders are required to offer option of satisfying reverse mortgage by paying 95% of appraised present value. No active pleadings so the only costs are the HOA fees currently. - This unit needs everything and sold AS IS - but does have three bedrooms which is rare. Corner Unit with many amenities including fitness center, pickelball, pool, tennis courts, elevators and no fixed bridges for boaters. And a security gate.

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Dianna Hopkins

Diana Hopkins

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