Latest news with #homeowners
The Independent
2 hours ago
- General
- The Independent
Of course my water stopped working during a heatwave
WATER Showerless, I tried to sweat less. Water was there When I left the house, sitting in pipes, Cooling beneath the floorboards, supplying flushes and cleaning teeth. But two hours later the kitchen tap opened to gasps of air Because there was nothing there. Mains fed it was a dry throat, While other basins filled from the pool in the loft As it drained to its silt like a beach As the tide recedes. Three men puzzled over the leakless lack of evidence And a garden stopcock that answered no questions. One dug a hole big enough to uncover no problems And bury a large dog quite deep. Stickily, as my hair crisped, another day passed. A neighbour mentioned his stopcock left his water on. He'd oiled and cleaned and twisted it, wondering at its uselessness Until its head almost snapped off, not seeing that it wasn't his. He'd blindly severed the artery that crossed the street to me. When I showed him the garden pit, mortified He looked as if he'd like to throw himself into it.
The Sun
4 hours ago
- Entertainment
- The Sun
Love Island's Finn Tapp takes major step with stunning girlfriend as they buy their first home together
LOVE NEST The couple went Instagram official last year LOVE Island's Finn Tapp has taken a major step in his relationship with his stunning new girlfriend, as they reveal they have bought their first home together. Tis is former Islander Finn 's first serious romance since he split from long-term girlfriend Paige Turley. 5 5 5 5 The reality star, 25, took to social media to share the couple's exciting news. They looked smitten as they got ready to take the next big step in the budding romance Finn's mystery lady was seen beaming as she leaned close to her man. He captioned the sweet snap with: "We're home owners!! "Today we picked up the keys to our little Victorian home! "We cannot wait to get started with the renovations and make it our own! We couldn't be happier." The former semi-pro footballer is still yet to reveal the identity of his new partner, but since going Instagram official last summer, he has shared plenty of loved-up snaps with her. Finn launched to fame on Love Island in 2020, and that's where he met his now ex-girlfriend, Paige. After three years together, the pair announced their split in 2023. It was an amicable break-up, with Paige admitting they'd "lost themselves in each other" after winning winter Love Island and moving in together straight away. Watch heartbreaking moment Ex On The Beach's Paige Turley fights tears as she confronts ex Finn Tapp over new romance However, they were reunited last year, when they both took part in Celebrity Ex On The Beach. However, things took a turn when shortly after filming wrapped, it was revealed that MAFS Australia star Tamara slept with Finn the night before the MTV show's launch party. A source told The Sun at the time: "The cast was rocked by Finn and Tamara's fling. They felt really uncomfortable for Paige who they'd grown close to. "At the party, the girls sided with Paige and kept their distance from Tamara. "Tamara was heard telling guests she was having a 'miserable' time and they were 'all being so mean'." 5
Daily Mail
6 hours ago
- Politics
- Daily Mail
Major update for Florida condo owners in midst of crisis
Fed-up Florida homeowners just scored a rare win after years of skyrocketing costs. Starting July 1, a new law will rein in homeowners associations (HOAs) long accused of slapping residents with surprise fees and fines for petty infractions. Governor Ron DeSantis signed HB 1203 into law earlier this month, ushering in sweeping reforms aimed at making HOA boards more transparent and less intrusive. Under the new rules, any HOA with more than 100 homes or condos must post key documents — including budgets, covenants, and bylaws — on a publicly accessible website by January 1. Board members and property managers will also have to complete 4 to 8 hours of state-approved education each year. And homeowners must now get at least 14 days' notice, along with an agenda, before any board meeting. The changes are being welcomed by property owners who say they've been blindsided with arbitrary violations and ballooning fees with little warning or recourse. And this could be just the beginning of nitpicky HOAs. Lawmakers have signaled more limits may be on the way, in Florida and other states. A new law Florida Gov. Ron DeSantis signed with the aim of tighter regulations over Homeowner Association Fees will go into effect July 1 They can no longer ban residents from parking non-commercial, personal or work vehicles on the property. Also exempted now are first responder vehicles. HOAs can no longer create rules for the interior of a home that is not visible from the street. Now, plans for central air conditioning, refrigeration, heating or ventilation systems and changes or upgrades to adjacent common area or community golf courses require a review and approval. HOAs can no longer prevent homeowners from having a vegetable garden that can't be seen from the street, and they can't fine residents for leaving garbage cans at the curb or end of their driveway within 24 hours of a scheduled trash collection. Residents will no longer be fined for leaving up holiday decorations or lights longer than indicated in the HOA's governing documents without prior notice. Homeowners will have one week to take their decorations down after a written warning. Florida lawmakers unanimously passed HB 1203 in March before DeSantis signed it. 'This bill comes from a lot of listening to owners talk about how they know their building needs to be safe but pleading that the process be fair and workable,' state Sen. Jennifer Bradley (R-Fleming Island), said at a press conference. The law comes as a relief to Floridians who have seen their HOAs skyrocket in the wake of the Surfside condo collapse in June 2021. Laws now require structural inspections for condos and additional money to be set aside for repairs, leading to an increase in required payments. More frequent natural disasters such as hurricanes and flooding have also led homeowners associations to raise fees in anticipation of repairs and mitigation needs. Several retirement hotspots in Florida in particular have been hit with high spikes on their HOA fees on their condos. Tampa, Orlando and Fort Lauderdale have all seen HOA rises of more than 15 percent in the last year, according to Redfin. In Tampa, the median monthly HOA fee jumped 17.2 percent over the year to July 31, according to Redfin. In Orlando, the fees soared by an average of 16.7 percent, and in Fort Lauderdale they rose by 16.2 percent, it found. This is compared to an average hike of 6 percent across the 43 most populous metro areas which Redfin analyzed. HOA fees also rose in West Palm Beach by 12.8 percent, by 7.6 percent in Jacksonville and by 5.7 percent in Miami. 'Many buildings - even those without amenities - now have HOA dues north of $1,000 a month,' Rafael Corrales from Redfin said. The HOA problem had gotten so out of hand in the Sunshine State that South Florida's pandemic property boom has officially reversed. After years of surging demand, the region's real estate market is now flooded with listings as desperate homeowners rush to sell amid soaring costs and vanishing buyers. According to a report from Cotality, the number of homes for sale across Miami-Dade, Broward, and Palm Beach counties has quadrupled since 2022 — hitting the highest level in nearly a decade. 'The last 25 years have seen home prices, homeowners' insurance, and property taxes surge in Florida,' explains Cotality chief economist Selma Hepp. 'When you add in the unflagging migration that is straining the state's public services and inflated costs across the board, the pressure on the quality of life has become so great that it is beginning to tip the balance. Many households are finding it increasingly difficult to stay in the state.'
Yahoo
10 hours ago
- Business
- Yahoo
US homeowners struggle with troubling catch-22 as insurance crisis grows: 'It is not worth the cost'
Homeowners are facing a troubling catch-22 when it comes to property insurance. Rising costs are making the safeguard too expensive for many people, leaving their dwellings unprotected from the severe storms that are driving up the premiums, according to The Daily Jeffersonian. Intense and more frequent extreme weather events are wreaking havoc on storm-prone areas across the country. A combination of increasing premiums and nonrenewals is leaving property owners in those areas with few options. The Federal Reserve said that 7% of homeowners surveyed last year went without insurance because "it is not worth the cost," according to 19% of respondents. It's a problem that has been years in the making. The Consumer Federation of America reported that rates rose 8.7% faster than inflation from 2018 to 2022. Coincidentally, home values in coastal communities are dropping as premiums rise. However, coverage nonrenewal rates are 80% higher in areas hit hardest by extreme weather, per the findings. The issue isn't limited to the seaboards, as premiums jumped in 95% of ZIP codes in recent years. A "typical" homeowner with property carrying a $350,000 replacement value pays about $275 a month for insurance — an amount that's growing. Rising rates are particularly felt by lower-income households, according to the CFA. "Homeowners earning under $50,000 per year are twice as likely to lack insurance compared to homeowners in general," per the data. The rising prices are evidence of how our planet's overheating is impacting almost everyone, either with unhealthy air, lighter pocketbooks, or both. A Zillow survey from 2023 found that 80% of respondents consider climate risks when buying a home. The National Centers for Environmental Information reported that the number of storms causing at least $1 billion in damage has been increasing since the 1980s, a decade that produced 33 of them. There were 115 in the last five years alone, with values adjusted for inflation. Increased use and availability of federally subsidized insurance for disasters such as floods can provide vital protection in areas where other providers are not active anymore, according to CBS News. It's important for anyone considering a move to stay informed on climate topics to prevent a relocation into a dangerous area, such as the expanding Tornado Alley. Do you think your energy bills are too high? Always Usually Only in certain months Never Click your choice to see results and speak your mind. Surprisingly, Bloomberg reported that more Americans are moving into danger zones because of the cheaper home prices. Using your voice and vote to let lawmakers know that keeping agencies like the National Oceanic and Atmospheric Administration and the National Weather Service fully staffed can ensure that residents have updated data and services to make educated decisions, including about where to live. The agencies were part of the federal budget and staff cuts earlier this year, according to The New York Times and other reports. The Times reported that the NWS has rehired for some positions. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Yahoo
11 hours ago
- Business
- Yahoo
How to buy a house with bad credit
You can get a mortgage with a credit score as low as 620, 580 or even 500, depending on the type of loan. While you might be eligible for a mortgage with a low credit score, you'll pay a higher interest rate for the loan. Some mortgage lenders offer free credit counseling to help you improve your score before applying for a loan. Want to buy a house but worried that your credit isn't good enough to make it happen? You're not alone. Twenty-four percent of Americans who don't currently own a home point to their credit not being good enough as why, according to Bankrate's 2025 Home Affordability Report. While your credit score is the first factor mortgage lenders consider when determining whether you're eligible for a loan, it's not the only piece of the puzzle. Read on to learn how to borrow the money you need to buy a house with bad credit. You can get a mortgage with a lower or bad credit score, but to do so, you'll need to prepare financially to ensure you get the best possible loan terms. Your preparations should include working to improve your credit score before applying, as this will increase your approval odds and put you in the best spot to secure a competitive interest rate. Here are some steps to take: Checking your credit report for errors can help identify any items that may be lowering your credit score. Several factors make up your credit score, including your payment history, amounts owed on current credit and how long you've had credit accounts. Your credit mix and new credit accounts also play a role in your score. If you see a mistake or outdated item related to any one of these factors, contact Equifax, Experian or TransUnion. Each credit bureau has a process for correcting errors and out-of-date information. When working toward buying a home with bad credit, try to pay down what you already owe. Lowering your debt load might not only boost your credit score but also make you eligible for a bigger mortgage, thanks to a better debt-to-income (DTI) ratio. Every mortgage lender is different, and some offer lower rates and fees than others. Research shows that getting multiple rate quotes can save you thousands over a 30-year mortgage. Check out different types of lenders, including banks and online lenders, to see where you get the best offer. Learn more: Best mortgage lenders for bad credit If you have bad credit, consider asking a family member or friend with better credit to co-sign your mortgage. This can help give your application a boost — but only if the co-signer is able and willing to take on the debt. (Note that co-signing is different from co-borrowing.) If you see ads promising 'guaranteed' approval for a mortgage regardless of credit, it's a red flag. Under federal rules, a lender must verify the ability of a borrower to repay a mortgage, so there can't be a 'guarantee' unless that happens. Even if you get that guaranteed approval, it usually comes with excessive or inflated costs. Credit report changes can take time to go through the system, so improved scores might not show up in time for a mortgage application. In this case, you can try getting a rapid rescore through your lender. In this process, your lender submits proof to a credit agency that an applicant has made recent changes or updates to their account that are not yet reflected on their credit report. You'll need to pay for this service, but the expense might be a worthwhile trade-off to get a better interest rate. Loan type Credit score minimum Conventional loan 620 or 660 depending on program FHA loan 580 (or 500 with a minimum 10 percent down payment) VA loan No official requirement, but typically 620 USDA loan No official requirement, but typically 640 Fannie Mae and Freddie Mac each back conventional loans with a lower minimum credit score of 620 and 660, respectively. Both of these loans require just 3 percent down and may offer either a fixed or variable interest rate. Conventional mortgages, however, may have stricter qualification criteria than other types of mortgages, such as FHA or VA loans. The Federal Housing Administration (FHA) insures FHA loans, which allow mortgage lenders to accept a credit score as low as 580 with a 3.5 percent down payment, or 500 with a 10 percent down payment. While FHA loans have more lenient qualifying criteria, they come with mortgage insurance premiums (upfront and annual) that you'll need to pay no matter your down payment size. If you're a military member, veteran or married to someone who has served in the armed forces, you could benefit from a VA loan backed by the U.S. Department of Veterans Affairs. You don't have to meet a specific credit score minimum to qualify, although many lenders do require a score of at least 620. No down payment is necessary with this loan, but you'll need to pay the VA funding fee. If you have a lower income and want to buy a home in a particular rural area, look into a USDA loan. While not a hard-and-fast rule, most USDA-approved lenders require a minimum credit score of just 640. Like VA loans, USDA loans come with no down payment requirement. Lenders rely on data from the three main credit reporting bureaus, Equifax, Experian and TransUnion. Typically, a lender looks at the middle credit score of the three when considering you for a mortgage. In addition to your scores, the lender will look at your credit report, including total debt and any issues like defaults or late payments. Mortgage lenders most often use the FICO credit scoring model to assess creditworthiness. Here's how those ratings work: Credit score range Rating Below 580 Poor 580-669 Fair 670-739 Good 740-799 Very good 800 or above Excellent Bankrate insight The average credit score of outstanding mortgages in the U.S. as of the fourth quarter of 2024 was 741, according to the Federal Housing Finance Agency. A poor credit score will primarily cost you in the way of a higher interest rate. Here's an example assuming a 30-year conventional loan for $400,000: FICO score APR* Monthly payment Total interest paid 760-850 7.072% $2,681 $565,009 700-759 7.314% $2,746 $588,593 680-699 7.428% $2,777 $599,779 660-679 7.482% $2,792 $605,095 640-659 7.58% $2,819 $614,769 620-639 7.711% $2,855 $627,755 Will you pay more for mortgage insurance with bad credit? It depends on the type of mortgage. Private mortgage insurers — which offer mortgage insurance for conventional loans, known as PMI — base their rates on credit score, among other factors. Generally, if you have a lower credit score, you'll pay more for PMI. On the other hand, if you're getting an FHA loan, your credit score won't impact how much mortgage insurance you pay — those rates depend on the loan term, loan amount and the size of your down payment. Are mortgage rates higher with bad credit? Yes. Generally, if you don't have good credit, that's a sign you're a riskier borrower. To compensate for taking on that risk, your lender will charge you a higher interest rate. Sign in to access your portfolio
