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Category: Condotel Financing Florida

At Fidelity Home Group, we are condotel mortgage experts in Florida! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Various Condotel Projects are popping up in South Beach, Panama City, Palm Beach and Miami.

Caring for the Financial Well-being of the Association (FL)

To ensure the financial well-being of the association, boards and managers should focus on at least four factors in the association: budget, reserves, insurance, and collection practices. This article will take a brief look at each of these, but this is not a finite list. It is recommended that you consult with your association attorney and accounting professionals to ensure you are doing all that you can to address these and any other financial facets of the association in the best way possible for your community.   Read the entire article………………………………....

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What Associations Need to Know About Homestead (FL)

Article X, Section 4 of Florida’s Constitution protects homestead property from many kinds of forced sales. However, since foreclosures of homestead properties for unpaid association assessment debts and for unpaid mortgage debts occur routinely, it is easy to see how many homeowners’ associations and condominium associations are lulled into thinking that constitutional homestead property protections do not apply to association matters.   Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing...

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The Subtle and Not-So-Subtle Differences Between Homeowners and Condominium Associations (FL)

Florida has created an abundance of legislation governing homeowners’ and condominium associations. You would think that, by now, laws affecting both types of communities would have more parity than they actually do. (Please note that that commercial condominiums are not addressed in this article.)   Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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Federal agency announces expert team to investigate Surfside condo collapse

The National Institute of Standards and Technology (NIST) on Wednesday announced that it has established a team of experts to investigate the collapse of the Champlain Towers South condominium building.    Read the entire article………………………………. Community Associations    

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Your Checklist To Get Ready To Sell [INFOGRAPHIC]

Some Highlights When it comes to selling your house, you want it to look its best inside and out. It’s important to focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal for prospective buyers. Let’s connect to make sure your house shows well and catches a buyer’s eye. Content previously posted on Keeping Current Matters Keeping Current Matters

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Report: Evidence of extensive corrosion in Miami-area collapsed condo

Video released by a team of federal investigators shows more evidence of extensive corrosion and overcrowded concrete reinforcement in a Miami-area condominium that collapsed in June, killing 98 people.  The National Institute of Standards and Technology also announced Wednesday it will conduct a five-pronged investigation into the Champlain Towers South collapse, which will be led by Judith Mitrani-Reiser. She is a Cuban-born engineer who grew up in Miami.     Read the entire article………………………………. #floridacondotelmortgage...

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Could Surfside Happen to You? What Concerned Condo Owners Should Do Now

In the wake of the shocking collapse of a high-rise condo building in Surfside, Florida, on June 24, condo owners nationwide are probably asking themselves: How safe am I? Is my condo board doing all it should be doing to ensure the structural integrity of my building?    Read the entire article………………………………. Community Associations    

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If Housing Affordability Is About the Money, Don’t Forget This.

There are many non-financial benefits of buying your own home. However, today’s headlines seem to be focusing primarily on the financial aspects of homeownership – specifically affordability. Many articles are making the claim that it’s not affordable to buy a home in today’s market, but that isn’t the case. Today’s buyers are spending approximately 20% of their income on their monthly mortgage payments. According to The Essential Guide to Creating a Homebuying Budget from Freddie Mac, the 20% of income that purchasers are currently paying is well within the 28% guideline suggested: “Most...

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‘They Were Bullies’: Inside the Turbulent Origins of the Collapsed Florida Condo

The team that developed Champlain Towers managed to build the condos despite checkered pasts, internal strife and a last-minute change that infuriated leaders in Surfside, Fla.   Read the entire article………………………………. https://communityassociations.net/category/fl_news/feed/

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Rates posted assumes 25% down payment, and an ARM and fixed rate first mortgage options on a Florida condotel, secondary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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