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Did You Know?
A Reverse mortgage is also known as HECM
Section 255: Home Equity Conversion Mortgages (Reverse Mortgages, a.k.a. HECM) allows a borrower aged 62 and older to borrow against the equity in a property that has limited outstanding debt. A subject property under this program must be an existing one-to four-unit dwelling in which the mortgagor occupies one of the units. It may be a condo if in a FHA approved project. Manufactured homes are eligible if the home complies with outstanding FHA guidance.
Newsroom
News about real estate cases in Nevada and nationwide:
Definition:
An owner's financial interest in a property; calculated by subtracting the amount still owed on the mortgage loon(s)from the fair market value of the property.
Federally Assisted Projects
Definition:
A federally assisted project is one which receives Federal reimbursement or payment of some project expenses such as planning, construction, right-of-way acquisition, and property management.
Lease
Definition:
A lease is an agreement between a landlord, property owner or property manager and a tenant. The agreement covers issues such as rental amount and length of time the lease is in effect. The rental amount may include or exclude property taxes, garbage pickup fees, utility costs, property maintenance and other expenses.
If you live in the following cities and need an real estate attorney you should contact
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Boulder City
Carson City
Elko
Fallon
Gardnerville
Henderson
Las Vegas
North Las Vegas
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Sparks
Sun Valley
Winnemucca
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general information related to real estate issues commonly encountered.
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