Live Insurance News

For Sale, With Strings Attached: The Hard Truth About Alabama Beachfront Condos

May 14, 2025May 13, 2025 Nordstrom

Alabama’s Gulf Coast Condo Market Braces for a Tough Ride The sun-kissed shores of Gulf Shores and Orange Beach still draw plenty of Louisianans craving sugar-white sands and laid-back vibes. But while the beaches remain a weekend staple, the condo market along Alabama’s Gulf Coast is facing a wave of challenges that’s left buyers, sellers, and real estate agents all staring down mounting obstacles. Sure, Baldwin County is one of the fastest-growing metros in the U.S., but condo sales? They’ve taken a nosedive. Numbers from the Alabama Center for Real…

Why Gen Z Is Checking Weather Maps Before Signing a Mortgage

March 25, 2025March 24, 2025 Live Insurance News

Weather Disasters and Rising Insurance Costs: A Barrier to Millennial and Gen Z Homeownership Homeownership has long been seen as a pillar of the American Dream, but for Millennials and Gen Z, that dream is becoming increasingly out of reach. It’s not just student loans or sky-high housing prices putting a dent in young buyers’ ambitions. Severe weather disasters and rising home insurance costs, fueled by climate change, are rewriting the rules of who can afford to own a slice of real estate. The Cost of Climate Change Hits Home…

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

March 15, 2025March 12, 2025 Ester Adams

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…

Mortgage struggles on the horizon as Florida home insurance problems continue

January 24, 2024January 23, 2024 G. Turner

Home Insurance - Mortgage calculations - Florida Flag

As the coverage crisis continues in the state, there is a risk of a real estate market downturn. As the home insurance crisis drags on in Florida, the risk could increase for a downturn in the state’s real estate market, with a threat of mortgage struggles. Major insurers have been stepping out of the state and have stopped selling new policies. Home insurance customers in Florida are paying the highest premiums in the United States. Residents of the state pay an average $6,000 annual premium to private insurers according to…

New Florida force-placed insurance regulations now in effect

July 5, 2023July 4, 2023 G. Turner

As of last weekend insurers and mortgage lenders have new rules to which they must comply. Starting on July 1, Florida force-placed insurance regulations have been updated, requiring insurers and mortgage lenders to face certain tighter restrictions on the implementation of those policies. The change is the result of a new bill approved by Florida lawmakers earlier in 2023. House Bill 793 took effect at the start of this month, with the intention of banning what some have referred to as lender “double dipping.” That occurred when lenders put force-placed…

Mortgage Loan Alternative to Banks

March 3, 2022 Guest Author

Starting a new business on a small scale, buying an apartment for you, or purchasing a car for you may be easier with a mortgage loan. These kinds of loans can help you expand your small business. Traditionally, banks were the only option to get such mortgages. However, lots of other alternatives have emerged over time. These alternatives, sometimes, may prove even better than the other options. However, make sure to double-check and work with trusted lenders. Sometimes, lenders may be involved in any kind of fraud that can put…

Getting Rid Of PMI: How To Do It

November 25, 2021 Guest Author

Private mortgage insurance (PMI) helped a record-high two million low-downpayment borrowers secure mortgage financing in 2020, a 53% jump from 2019, Housing Wire reports. It’s generally required if you’re unable to make a minimum down payment of 20% and ranges between 0.5%-2% of the loan total. Fortunately, however, you’re not locked into paying PMI (which can be hundreds of dollars each month) for the entire life of your loan and have several options for getting rid of it. Wait for automatic cancellation Under the Homeowners Protection Act, PMI should automatically…