It doesn’t make sense to refinance at-risk FHA loans due to higher interest rates, so the latest plan simply offers a reduction and extends the mortgage payoff date. WASHINGTON – On May 31, the Federal Housing Administration (FHA) proposed a new plan to help mortgage borrowers behind on payments to get back on track. It … Read more
BOCA GRANDE, Fla. – Anyone who has ever been in a disaster situation has the wherewithal to know what to do when it is safe to check out their surroundings. Many people were in that boat on September 28, 2022, the day Hurricane Ian winds and rain forced their way through every nook, cranny and … Read more
On Thur., Fed Chair Jerome Powell told Congress that “inflation pressures continue to run high” and “nearly all” Fed policymakers expect at least one more rate hike. WASHINGTON (AP) – Chair Jerome Powell reiterated Thursday that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation … Read more
While “shelter costs” make up 25% of the Consumer Price Index, the calculation only looks at rising rents. SMR calls that “a major flaw” and developed its own index. HACKETTSTOWN, N.J. – SMR Research Corp. says there’s “a major flaw in the government’s Consumer Price Index (CPI)” that its new Homeowners Cost of Living (HCOL) … Read more
Brokers’ files often have Social Security numbers, bank account information and driver’s license copies – the top targets of fraudsters. It’s important to keep that info safe – and have an internal system that provides legal protection if that fails. CHICAGO – Consumers are demanding increased transparency about how their personal information is being used. … Read more
Florida Realtors: YOY single-family home median price flat at $419.9K, supply at 2.7 months. YOY condo median price up 0.9% to $325K, supply stands at 3.6 months. ORLANDO, Fla. – In May, Florida’s housing market had more for-sale inventory (active listings) compared to a year ago, while statewide median sales prices remained relatively flat year-over-year, … Read more
The Community Foundation for Northeast Florida won the Award for Public-Philanthropic Partnerships. The nonprofit pairs private grants with groups in need. WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the Council on Foundations (COF) announced the winners of the 2023 Secretary’s Award for Public-Philanthropic Partnerships. Of the 10 recipients, one – … Read more
Airbnb ownership can be a good source of passive income flexibility for personal use. The downside: Startup costs, irregular income and an occasional unruly guest. NEW YORK – Owning a hotel or a lodge might be a bridge for investors in this economy, hence investing in Airbnb is most feasible. Airbnb investing is substantially different … Read more
Across Fla., 214 young people are getting help with their college costs from the Florida Realtors Education Foundation as they prepare for the 2023-24 school year. ORLANDO, Fla. – As young people head off to college this fall, 214 of them from communities across Florida will receive financial help through scholarships from Florida Realtors® Education Foundation … Read more
Overall housing starts rose 21.7% in May, and single-family home starts increased 18.5%. A big reason? Buyers can’t find enough existing homes to consider. WASHINGTON – Limited existing-home inventory, solid buyer demand and improving supply chains helped push May single-family home starts to an 11-month high. Overall housing starts increased 21.7% to a seasonally adjusted … Read more
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