Many new homeowners don’t realize the monthly payments on fixed-rate mortgages can go up and down depending on PITI – principal, interest, taxes and insurance. MIAMI – If you have a fixed-rate mortgage, your payments will always stay the same, right? Wrong. Maybe you’ve heard the term PITI, which stands for the main components of … Read more
Thousands of veterans are facing foreclosure as pandemic-era forbearances end. The new loan program is only available to eligible veterans WASHINGTON – The Department of Veterans Affairs announced a last-resort program that provides 2.5% interest rate home loans to more than 40,000 veterans who are facing foreclosure. Through the Veterans Affairs Servicing Purchase (VASP) program, … Read more
More hopeful buyers are partnering with family or friends or renting rooms to achieve the goal of homeownership. Analysts say more homes need to be built in the U.S. NEW YORK – Home shoppers today need to make more than $106,000 to comfortably afford a home, a new Zillow analysis finds. That is 80% more … Read more
One economist said consumers appear to be adjusting their expectations for the housing market to better accommodate higher mortgage rates and home pricing. WASHINGTON – While a growing number of consumers think mortgage rates will increase in the coming year, their optimism about the home buying and selling market ticked up, according to Fannie Mae’s … Read more
A federal appeals court granted the U.S. Department of Justice authority to reopen an antitrust investigation against the National Association of Realtors. WASHINGTON – The U.S. Circuit Court of Appeals in Washington, D.C., ruled Friday that the Department of Justice is not barred from re-opening its investigation into the National Association of Realtors. That probe … Read more
Forecasters project 23 named storms this year. Sales tax holidays this year – June 1-14 and Aug. 24-Sept. 6 – eliminate taxes on some disaster-preparedness supplies. TALLAHASSEE, Fla. – Floridians received a second reminder Thursday to brace for a busy 2024 hurricane season, as Colorado State University researchers issued a forecast pointing to warm Atlantic … Read more
To successfully navigate the market, first-time buyers should expect to move quickly and make an offer if they see a home they like. They should also seek mortgage preapproval. NEW YORK – Real estate has garnered considerable attention since 2020, and for good reason. Though speculators and real estate professionals may point to several variables … Read more
Self-employed and business filers should remember home office, vehicle and retirement fund contribution deductions, experts say. NEW YORK — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, … Read more
The Florida Office of Insurance Regulation’s (OIR) said the state’s insurance market is continuing to strengthen with more carriers. TALLAHASSEE, Fla. – Another property and casualty insurer was recently approved to enter Florida’s insurance market, bringing a total of eight new insurers following legislative reforms aimed at stabilizing the market, state insurance regulators said Wednesday. … Read more
NEW YORK – Tax season can come with several headaches, from gathering documents to finding the time to sit down and file. But one pain that you want to avoid is falling for a tax scam. Year-round, scammers look for ways to trick people into giving them money or personal information. There are several common … Read more
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