article thumbnail

Going to Extremes

Appraisal Buzz

Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks. And in some condominium markets in Florida, home values are taking a hit as insurance premiums skyrocket.

HOA 370
article thumbnail

Title insurers reckon with attorney opinion letters

Housing Wire

Now, thanks to United Wholesale Mortgage (UWM) CEO Mat Ishbia’s recent announcement that his company is hiring attorneys to review title and closing documents, AOLs and the risks associated with them, have been a hot topic at this year’s ALTA One conference.

Insurance 306
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Opinion: More can be done to shorten the average time to close

Housing Wire

Then, they think about the mortgage : a good rate, good monthly payments, and approval. Yes, the complex legal and regulatory web that can vary from state to state and even city to city doesn’t invite a quick and smooth passage to the closing. Dealing with the HOA—a nightmare for all parties involved.

HOA 425
article thumbnail

Opinion: Will AI usher in real estate’s “Model T” moment?

Housing Wire

It’s not often that we can draw a parallel between the automobile industry and the mortgage and real estate industries. The mortgage industry has been awaiting its own “Model T” introduction for quite some time. Yes, the world of mortgage and real estate has come a long way in just a few short years. Sound familiar?

HOA 362
article thumbnail

Opinion: More should be done to shorten the average time to close

Housing Wire

And the complex legal and regulatory web that can vary from state to state and even city to city doesn’t invite a quick and smooth passage to the closing. For numerous reasons, the curative department of a title firm likely doesn’t have the technology to procure things like a satisfaction of mortgage or release.

HOA 409
article thumbnail

What is an HOA?

Lamacchia Realty

WHAT IS AN HOA? An HOA, or Homeowners Association, is when a common interest community – which includes mainly condos but could include some single-family or waterfront properties – provides ground rules for maintaining their common spaces and property. HOAs can also have legal power over properties.

HOA 67
article thumbnail

Understanding the Math of Profitable Investment Properties

Eppraisal

These may include property taxes, insurance, maintenance and repairs, property management fees, and any homeowner association (HOA) dues. Be sure to factor in all associated costs, including mortgage interest, property taxes, and insurance. Additionally, factor in a contingency for unforeseen expenses.