A bank began the foreclosure process on a Tallahassee home co-owned by Republican US Senate candidate Marco Rubio after he failed to pay his mortgage for five months, according to court documents filed this week. But Rubio and David Rivera, a Miami state lawmaker who co-owns the home, settled the matter and paid the $9,500 owned to Deutsche Bank, according to Rubio’s spokesman, Alex Burgos.
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A new bill in the House of Representatives would make cooperatively owned units, or co-ops, eligible for mortgages backed by the VA.
MDK is strongly encouraging clients to embrace the new normal while preparing for a foreclosure volume increase in the not-too-distant future.