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As insurance costs rise, Florida homeowners are given a new option

Housing Wire

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options.

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Homeowners are getting worried about flood insurance costs

Housing Wire

Homeowners are increasingly concerned with flood insurance premium hikes impacting affordability, Fannie Mae ‘s latest national flood survey showed. The latest survey is an expansion from its 2020 version and compared how homeowners’ and renters’ awareness and attitudes towards flood risk and flood insurance changed over the years.

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Here’s where the oldest and youngest homeowners live

Housing Wire

Have you ever considered the median age of homeowners in your area? According to a study conducted by LendingTree, homeowners gravitate towards specific parts of the country depending on their age. These are the places with the oldest average homeowners: 1. Miami: Average homeowner age: 54.47. Millennial homeownership.

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HomeZada rolls out AI-powered chat assistant for homeowners

Housing Wire

The goal of Zada Home AI Assistant is to assist with the challenges homeowners face when trying to finding answers on remodeling projects, product comparisons, and maintenance and repair inquiries by offering a secure platform that allows users to engage in interactive, two-way conversations.

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As insurers flee disaster-prone areas, homeowners turn to ‘last resort’ insurers

Housing Wire

As major home insurance carriers are increasingly pulling back their coverage options in disaster-prone areas, hundreds of thousands of people are moving to state-sponsored “last resort” insurance plans originally designed to offer a temporary fix. The plans were designed to be temporary safety nets,” the Journal report reads. “As

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Renovation loans get pandemic boost as homeowners want home offices

Housing Wire

Vexed by work-from-home arrangements owing to the COVID-19 pandemic, homeowners are taking the long view and rethinking floor plans. Homeowners are serious about dedicating room for work. The post Renovation loans get pandemic boost as homeowners want home offices appeared first on HousingWire. Already a member?

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

With the cost of living on the rise, many older homeowners are looking for financial solutions that allow them to age in place. This means that the homeowner (or their heirs) won’t owe more than the home is worth when the loan is repaid. Consult a tax professional. †

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