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Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. For over 40 years with Section 203(k) of the National Housing Act, FHA has been protecting lenders with fully-insured mortgage loans even as renovations are underway.

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How to price homes properly in a volatile housing market

Housing Wire

Although there have been some recent positive signs in the housing and jobs markets, those signs point to stubbornly high inflation and a corresponding stubbornness on the part of the Federal Reserve to continue raising interest rates over the longer term to fight inflation.

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Housing markets with flood and wildfire risk are booming

Housing Wire

Homeowners and renters may not have felt the full impact of climate-related disasters since, oftentimes, they do not end up directly paying for renovations or repairs necessitated by an adverse climate event, Fairweather said. Recently, prominent insurance companies have exited some of these areas.

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Top renovations to protect homes from natural disasters

Housing Wire

Try one of these renovations: More for Real Estate Enthusiasts. A homebuyer’s guide to a competitive housing market. Home makeover: Design trends for your house in 2021. Four renovations to consider before selling your house. Finally, double-check your insurance policy. Storm shutters. Other options.

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Owning a condo in Florida is becoming less attractive: Redfin

Housing Wire

The cost of homeowners insurance has surged in Florida as insurance companies have grappled with significant losses due to an increase in natural disasters. And homeowners insurance costs are three times higher in Florida than the national average.

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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

The White House announced that President Joe Biden will call on lawmakers in the House of Representatives and the Senate to address a series of housing issues in his State of the Union address, which will be delivered to a joint session of Congress and televised nationally on Thursday night.

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Biden outlines housing proposals during State of the Union

Housing Wire

Then he spoke about a more controversial element to the housing plan announced earlier on Thursday: cutting the requirement for title insurance on some loans. And my administration is also eliminating title insurance on federally-backed mortgages,” he said. million new housing units nationwide.”