WASHINGTON – The Consumer Financial Protection Bureau (CFPB) launched a public inquiry into mortgage “junk fees” to “understand why closing costs are increasing, who is benefiting and how costs for borrowers and lenders could be lowered.” The CFPB said the closing costs borrowers pay in connection with a mortgage have risen steeply in recent […]
TALLAHASSEE, Fla. — With a potentially volatile hurricane season ready to start, the AM Best financial-rating agency released a report Thursday that said Florida’s property insurance market is showing signs of improvement — but that time will tell. The report said AM Best is “cautiously optimistic” about the Florida market, in part because of […]
FORT LAUDERDALE, Fla. – Question: We are in the process of purchasing an apartment. Our closing attorney received the report from the condominium association showing the monthly dues were current, and we were surprised to learn that a special assessment was pending because the sellers told us that none were. The contract also says […]
WASHINGTON – Nearly 90% of home buyers and sellers say they’d recommend their real estate agent, according to National Association of Realtors® data. Unfortunately, many never do it because they forget their agent’s name, says Shay Hata, team lead of The Buy Sell Love Chicago Team at BHHS Chicago. The reason? Instead of post-transaction […]
News & Media By Rachel Tucker TAMPA, Fla. — Florida’s annual Disaster Preparedness Sales Tax Holiday gives residents some relief as they get their storm kits together. On June 1, the first day of a projected very active Atlantic hurricane season, certain items like generators, batteries and pet supplies will be available for purchase […]
News & Media By Amy Connolly TALLAHASSEE, Fla. – Gov. Ron DeSantis signed into law this week two bills that put new regulations on homeowners’ associations and one that requires residential property sellers to disclose flooding. HB 1049 — Flood Disclosure in the Sale of Real Property House Bill 1049 requires residential property sellers […]
ORLANDO, Fla. – Dear Shannon: I’m a licensed appraiser and also a commercial real estate broker. I was hired by a local commercial lender to do an appraisal on a 24-unit apartment building. The owner was contemplating a possible refinance to take advantage of a bit of equity on the place and had no […]
News & Media WASHINGTON – Pending home sales in April fell 7.7%, according to the National Association of Realtors®. All four U.S. regions registered month-over-month and year-over-year decreases. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 72.3 in April. Year over year, […]
LOS ANGELES — The average rate on a 30-year mortgage moved back above 7% this week, a setback for home shoppers at a time when the U.S. housing market is already slowing under the strain of elevated home loan borrowing costs and rising prices. The rate rose to 7.03% from 6.94% last week, mortgage […]
WASHINGTON —The Department of Veterans Affairs asked mortgage servicers to continue a moratorium on foreclosures for veterans with VA-guaranteed loans through December 31, saying it will help veterans and their families as they navigate a new loan modification program. The VA said its new targeted foreclosure moratorium will help ensure that veterans and their […]
NEW YORK – As a former college athlete, John Bovard has always prioritized exercise. Building a home gym helped him balance health, career and family. “To be able to walk right downstairs, get our workout in, be back upstairs without any travel time or any commute was something that was our best option,” says […]
WASHINGTON — Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation. A key reason for the delay in rate cuts is that the […]