Good news for Florida Homeowners

According to the Mortgage Bankers Association, Florida has been among the tops states in re-financing real estate growth.  Florida baby-boomer homeowners have been successfully able to reduce their mortgage payments and save on expenses while their property values continue to rise.  This is good news for their retirement porfolios.  According to data released by the National Reverse Mortgage Lenders Association, South Florida homeowners age 62 and older now have $3 billion more equity in their homes since the low point of the housing bust in 2011.

Many older South Floridians are now trying to pay off their mortgages. Seniors in Broward, Miami-Dade and Palm Beach, lead many of their counterparts in other parts of the United States in being mortgage free, according to the real estate website Zillow.com