Flood Insurance Rates Going Up? Here’s What to Do
If you live where floods happen, you may see an increase on your next flood insurance bill. Here’s why rates are changing, plus tips to help you figure out if you’re affected.
(On March 21, 2014, President Obama signed into law a bill to provide relief from high flood insurance rates. Read about it here.) Read the rest of this entry
Flood insurance problem: Delays, hopes and lawsuits
Initially heralded as a long-overdue relief measure for homeowners at risk of flooding, 2012’s Biggert-Waters Flood Insurance Reform Act extended the nation’s National Flood Insurance Program (NFIP) for five years and took steps to make the program financially self-sustaining. Read the rest of this entry
In certain areas of Florida, having flood insurance is required for a home mortgage by the lender if any portion of the parcel is located within a high risk flood area. For some consumers who have never carried a flood insurance policy before, this can be a different process from what they have been accustomed to through carrying a hazard insurance policy. Let’s examine the aspects of carrying a flood insurance policy. Read the rest of this entry
There are several important steps in the home loan process, one of those required steps is obtaining homeowner’s insurance. Below is a basic idea of the insurance process, and how the coverage’s work.
Understanding Homeowner’s insurance: Read the rest of this entry
Understanding Closing Costs
There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable. As I negotiate the purchase contract on your behalf, I will strive to achieve not only the selling price that you want, but to also limit the number and amount of closing costs for which you are responsible. Read the rest of this entry