FHA MORTGAGESEffective Oct. 1, FHA will raise its mortgage insurance fee to 1.75 percent - up from 1.5 percent - for new mortgages and many refinanced loans. For a borrower with a $200,000 loan, that means a fee of $3,500, up from $3,000 in the past.Read the full story:http://www.floridarealtors.
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08/29/2008
LOS ANGELES - Aug. 28, 2008 - Is this the real estate turnaround? On the heels of an increase in Florida home sales, a spike in new home sales and an upswing in consumer confidence, traffic to Realtor.com went up significantly in July with month-over-month increases in both traffic (29 percent) a
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08/28/2008
HOMEBUYERSEffective Oct. 1, downpayment assistance programs go away, a change that will impact almost 20 percent of new-home buyers. Lawmakers axed the programs that allowed builders and other home sellers to channel money through a charity for a downpayment, because almost 40 percent of FHA borr
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08/27/2008
HOME SALESSingle-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida's housing sector, according to FAR's latest housing statistics. NAR also reported that n
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08/25/2008
PROPERTY INSURANCEHow will homeowners fare with property insurers when seeking repairs for damage from Tropical Storm Fay? There's good news/bad news. Since Fay never became a hurricane, the higher deductibles don't apply. But flood damage is not covered under most policies, and less than half of
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08/22/2008
TAXESA short sale - where the lender allows a house to be sold for less than what's owed on the mortgage - may enable a homesteaded owner to walk away from the loan without incurring any costs. However, investor and secondary-home owners likely will get a surprise from Uncle Sam next tax season:
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08/21/2008
TAMPA, Fla. - Aug. 21, 2008 - For homeowners in trouble, a short sale can be a lifesaver.Lenders allow a house to be sold for less than is owed on the mortgage and then write off the rest. The homeowner just walks away.Unless the owner is an investor, that is.Read the Full Story: http://www.flori
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08/21/2008
FANNIE AND FREDDIEFannie Mae and Freddie Mac, the government-sponsored enterprises that own or back over half of all U.S. mortgages, are now in uncharted water as they struggle with continuing credit losses, an uncertain ability to raise needed capital and the possibility of a government bailout.
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08/20/2008
WASHINGTON - Aug. 20, 2008 - Construction of U.S. homes and apartments fell in July to the lowest level in more than 17 years, the government reported Tuesday.The Commerce Department said that builders broke ground on 965,000 housing units on an annualized basis. That was down from a pace of 1.08
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08/20/2008
MORTGAGESWhile mortgage lenders have raised the bar on what it takes to qualify for a home loan, shopping for a loan online has actually gotten a little easier. The newest mortgage search Web sites offer users a way to comparison-shop and yet remain anonymous, though that perk makes their home lo
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08/18/2008
