Naples Florida Real Estate News - 09/04/07
Today’s Naples Florida real estate news covers - Governor Crist’s views on property insurance troubles, property insurance puts damper on Florida’s housing market as well as state economy, foreclosure issues, and FHA reform.
GOVERNOR CRIST - In an interview with the Northwest Florida Daily News, Gov. Charlie Crist gave his views on property insurance troubles (upbeat but disappointed), property tax issues (favors a proposed amendment) and Hometown Democracy (against).
NATIONAL DISASTER INSURANCE - At a recent forum in Palm Beach County, U.S. Reps. Ron Klein, Tim Mahoney and Robert Wexler – all from the Sunshine State – said they are pushing to establish a national catastrophe insurance fund. Florida Association of Realtors President Nancy Riley spoke at the same forum, noting that skyrocketing insurance premiums have put a damper on Florida’s housing market and could impact the state economy.
FORECLOSURES - While federal lawmakers may agree that something needs done to help Americans out of the subprime mortgage crisis, there’s no consensus on how to stop the foreclosures. The U.S. House and Senate are working on different plans, but neither one appears to be ready for action.
FHA REFORM - On Friday, President Bush announced FHA changes, called “FHASecure,” to help homeowners avoid foreclosure.
MORTGAGES - Ameriquest Mortgage Co., once the nation’s largest subprime lender, will close with barely a whimper after the other assets of its parent company were sold Friday to Citigroup Inc.
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