Today’s News August 12, 2019
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- What Should Buyers Know About Living Under HOAs?
Not all homeowner associations are created equal. Some are well-run by a competent board; others are plagued by infighting and may have costly upcoming repairs.
- Florida Wants to Buy Irma-Flooded Homes and Not Rebuild Them
The pot of hurricane-recovery money from HUD tops a billion dollars, and Fla. set aside $75 million to buy out flood-damaged homes – the first time the state has managed a program of this size to remove once-valuable coastal real estate from the market permanently.
- Fannie, Freddie Say New Mortgage Forms Will Be Delayed
Standard mortgage application forms were to change on Feb. 1, 2020 – their first update in 20 years. But a dispute over language preference will delay it.
- City Turns Empty Retail Space into Artist Studios
Fort Lauderdale is turning empty storefronts into artist colonies. They pay nominal rent but must move if a building’s owner finds a tenant to lease the space.
- Bill in Congress Pairs Counseling with Lower FHA Rate
First-time FHA borrowers could pay a lower interest rate if they go through counseling under H.R. 2162, but Congress must pass it and the president must sign it.
- FHA to Insure Opportunity Zones’ Mixed-Use Development
HUD says FHA-insured Section 220 Program loans can be used in all 8,764 U.S. Opportunity Zones, including those located in rural areas.
