MORTGAGE RATES

Rates on 30-year mortgages rose again this week – to 6.45 percent – climbing to the highest level in more than nine months, reflecting concerns about how the Federal Reserve will respond to higher inflation pressures.

HOMESTEAD EXEMPTION

As county budgets shrink, officials are becoming more aggressive seeking out owners who lie about their living status in order to get a homestead exemption. If caught, a tax lien is typically placed on an owner’s property. The owner also faces a fine: 50 percent of the unpaid taxes for each year and interest at 15 percent per year.

FORECLOSURES

A series of lawsuits accuse mortgage lenders of disregarding bankruptcy laws. The lawsuits typically allege that mortgage-servicing firms mishandle borrower payments, triggering unwarranted late charges or defaults; bill homeowners for more than they owe; and charge for unneeded and expensive property insurance.

DOWNTOWN REVITALIZATION

The condo boom gave cities hope that they could revitalize downtown areas with a fresh mix of homes, stores and offices. When the real estate slowdown hit, however, plans went on hiatus, though officials hope for a payoff when things again turn around.