Real Estate News 04/23/08
HOMEOWNERS INSURANCE
It’s a do-over: Allstate Corp. is preparing for both favorable and unfavorable rulings on its ability to conduct new business in Florida after an appeals court erroneously released a decision late Monday that could have meant trouble for the insurer. The real ruling is expected Tuesday.
SUBPRIME MORTGAGES
Efforts to help struggling borrowers are falling short, according to a report from the State Foreclosure Prevention Working Group, which found that 70 percent of homeowners at least two months behind on their mortgage payments still aren’t getting help. The number of homeowners facing foreclosure has increased 16 percent, partly based on slow assistance from lenders, according to the report.
INSURANCE ADJUSTERS
Public adjusters: Defenders of homeowners or opportunists who milk the system? While many property owners credit public adjusters with saving their home, critics claim that adjusters pressure homeowners to submit less-than-legitimate claims. In response, a handful of bills in the Florida Legislature would create new oversight rules.
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