New Owner Doesn’t Meet Condo’s Age Restrictions

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FORT LAUDERDALE, Fla. – Aug. 28, 2014 – Question: I live in a 55-and-over condominium. A neighboring property recently was sold at a foreclosure auction to a young couple who moved in with their small children. This goes against the rules of our community. Is there anything we can do? – Anonymous Answer: No. When the sale of a unit occurs …

Fed agency eases rules for inherited homes

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WASHINGTON – July 17, 2014 – The Consumer Financial Protection Bureau (CFPB) recently has clarified a rule that could have jeopardized heirs of mortgaged homes. An interpretive rule issued July 8 says that when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering the CFPB’s Ability-to-Repay rule. CFPB Director Richard Cordray …