With downpayment assistance, it’s not just about dollar value. By lowering the total mortgage amount, some Fla. owners can save $50K over the life of the loan. Source: Florida Realtors
Truth-in-lending disclosure to be tweaked in July
New lending disclosures went into effect last year, and CFPB has informally solved issues as they crop up, but CFPB says it plans to make some changes official. Source: Florida Realtors
Building laws go into effect July 1
Fla. bills effective July 1 revise some rules in Fla.’s building code, regulate private-residence elevators and authorize officials to create fumigation rules. Source: Florida Realtors
In the buy vs. rent battle, 'buy' is winning
The latest buy vs. rent analysis from Florida Atlantic and International universities finds that buying makes more financial sense in most metro areas. Source: Florida Realtors
1 in 10 home sales flipped in many Fla. metros
RealtyTrac: Home flipping increased 20% in the first quarter, though the total number of flips was still 26% below its 2006 peak – and more flippers now pay cash. Source: Florida Realtors
Supreme Court sides with owners in wetlands case
The U.S. Supreme Court ruled Tue. that property owners can file a lawsuit against the U.S. Army Corp of Engineers if they disagree with its land-use decisions. Source: Florida Realtors
Banks rush to offer 3% downpayment loans
If one major bank starts to offer 3% downpayment loans, others often follow. So far, Wells Fargo, Chase and BofA are offering non-FHA, low-downpayment products. Source: Florida Realtors
NAR: Pending home sales at a 10-year high
Consumers are buying homes. NAR’s monthly gauge of homes under contract rose for the third straight month in April to a level not seen since Feb. 2006. Source: Florida Realtors
Credit score problems still haunt Americans
The first thing buyers should do? Check credit scores. CFPB says that a lot of consumers still complain about mistakes and trouble with getting them corrected. Source: Florida Realtors
Free credit scores becoming the norm
Many credit cards now give customers access to their FICO score, and Discover says it will start to provide the score to everyone – whether a customer or not. Source: Florida Realtors
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