The Fed cut rates for the second time this year and said it would keep doing what it deems necessary to sustain the U.S. economic expansion. Interest rate cuts have a direct impact on adjustable-rate mortgages and an indirect effect on fixed-rate loans.
Under Fla. law, condo transfer fees can’t exceed $100, a limit that’s often ignored. However, that may change. A Miami condo board that charged $350 for screening and move in/move out fees has agreed to pay up to $300K to settle a class action lawsuit.
In many U.S. cities, the last vestiges of affordable housing are mobile home parks: Residents own the home and rent the land beneath it. But investors prize the land because they can buy it and raise rents, and it’s often a prime spot for developers who want to build housing.
Rental owners in Ga. and Idaho were charged in separate allegations. Both allowed families with children to rent homes, but they limited the total number of children they’d accept. The Idaho landlord will pay $15,000 and attend fair housing workshops.