Is your homeowners insurance going up? Maybe not. Is there a condominium association assessment in your future, especially if you purchased an apartment to condo conversion? Do you know the percentage of mortgage application turned down?
HOMEOWNERS INSURANCE – About 100,000 Florida homeowners insured by subsidiaries of The Hartford Financial Services Group won’t see their rates go up – at least not yet. State regulators plan to deny eight property insurance rate filings submitted by the company’s subsidiaries.
CONDO CONVERSIONS – At the height of the real estate boom, more than 150,000 apartments in Florida were converted into condos between 2004 and 2006. However, some complexes, are now getting hit with lawsuits for problems associated with aging buildings that allegedly received only superficial improvements.
MORTGAGES – The Federal Reserve and other regulators reported Wednesday that applicants for home mortgages were turned down for loans at a slightly higher rate in 2006 – 29 percent – than the previous year; and significant disparities continued to exist between white and minority applicants.
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