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Florida Real Estate News - 05/07/07
FLORIDA HURRICANE INSPECTIONS
Florida’s Department of Financial Services announced that the state’s free hurricane inspection program has resumed. Qualified homeowners may sign up for a free home inspection and receive limited matching funds to fortify against storm damage for their Naples home, Bonita Springs home or Estero home. The Florida My Safe Florida Home (MSFH) program can be reached either by calling (866) 513-6734 or visit their web site http://www.mysafefloridahome.com/.
CITIZENS PROPERTY INSURANCE
Citizens Property Insurance Corp. is almost always described as “Florida’s insurer of last resort†in media stories. But no more. A just-passed bill’s key provision expands Citizens’ operations and allows it to compete with private insurers. And those currently insured won’t have a rate increase at least until 2009. You might want to start considering Citizens for insuring your Naples FL home.
SUBPRIME MORTGAGES
As the investigation of New Century Financial and other subprime lenders continues, it looks like basic quality controls for the mortgage business were ignored as employees felt intense pressure from bosses to approve loans, even those with obviously inflated housing appraisals or exaggerated homeowner incomes.
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