News & Publications

The Torrens Title and Proceedings in Minnesota

In Minnesota’s Torrens system, a “Torrens title” is granted by Court order at the completion of a title registration proceeding. Title is registered in the name of the owner, with a specific legal description. A new “source of title” is created, called a Certificate...

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What Is “Torrens” Land in Minnesota?

Minnesota has two entirely different systems of land title records. Before Minnesota’s “Torrens Act” was enacted in 1901, all land in Minnesota was “abstract land”. With abstract land, private abstract companies either continue already existing, “abstracts of title”...

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Typical Costs and Fees of a Reverse Mortgage in MN

What are the typical costs and fees I will be looking at? According to the Consumer Financial Protection Bureau, reverse mortgages are more expensive than other types of loans. Unlike traditional mortgages, the amount you owe on your reverse mortgage will grow the...

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HUD Reverse Mortgage in MN

In recent years, HUD reverse mortgage standards have changed. HUD HECM standards have changed during the past decade as a result of massive program losses following the 2008-2009 real estate crash. To cut losses in 2013, HUD limited the amount that HECM borrowers can...

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Reverse Mortgage Cons (and Risks)

Reverse financing is not “free”. Reverse mortgages have significant costs that include lender fees, FHA insurance charges, closing costs, etc. These costs can be added to the loan balance. However, that means the borrower has more debt and less equity. Interest rates....

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Reverse Mortgages: The Pros

Reverse mortgages can help many seniors but are quite expensive. Reverse mortgages can also present significant risks in some cases. All forms of financing have their pros and cons, and reverse mortgages are no exception. Here are some of the key issues to consider...

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