FORECLOSURES – Some 80,000 homeowners with bruised credit and subprime ARMs will be able to refinance before they lose their home to foreclosure with a new loan program insured by FHA, as proposed by President Bush today.

This program may help some homeowners in the Naples real estate market.  However, there is a proposal to raise the ceilings from $362k to $417k ($417k is the ceiling for conforming loans).  The increase will assist more homeowners in the area, as well as the Bonita Springs and Estero real estate markets.

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Hank Fishkind noted Economist speaks out on the real estate – his thoughts may surprise you.  Good news for our veterans when it comes to mortgages.  Foreclosures being faced by homeowners and people that know the people is becoming more common.

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Another insurance company sticks it to Florida homeowners as they plan to drop 39,000 homeowner insurance policies after dropping 35,000 policies two years ago.  Subprime mortgages crisis over?  What do Floridian’s think about the state’s economy?

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Real estate news for Tuesday has some interesting items covering Flood Insurance, real estate taxes surprising many homeowners in Florida, and advice on negotiations if you are thinking about doing negotiations on your own.

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