Tag: housing affordability

The Intersection of Mortgage Insurance and Property Insurance in Today’s Housing Market

Ester Adams
Mortgage Insurance and Property Insurance

Understanding Mortgage Insurance and Property Insurance If you’ve purchased a home or plan to, understanding the different types of insurance tied to it is crucial. Two key types are mortgage insurance and property insurance, but they serve very different purposes. Mortgage insurance protects lenders in case a borrower defaults on their home loan. It’s usually required when the down payment is less than 20%. The cost of mortgage insurance is based on the value of the property. For example, a more expensive home will generally result in higher mortgage insurance…

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Legislative Reforms and New Programs Drive Florida’s Insurance Rate Reductions

H. Cutner
Florida Insurance Rate Reductions

Florida Insurance Market Relief Gains Momentum Floridians may experience meaningful financial relief as recent insurance rate reductions are announced for both homeowners and drivers. While the newly proposed budget for fiscal year 2025-26 includes additional measures to lower costs moving forward, the current savings are largely the result of older legislative reforms that are only now beginning to yield results. Impact of Older Legislative Reforms Recent decreases in insurance rates can be traced back to a series of reforms passed across previous years aimed at addressing deep-seated issues in Florida’s…

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