Tag Archives: property

New Year Brings New Loan Requirements

Starting January 1, 2014, there will be a multitude of changes in mortgage lending practices as a result of the implementation of the, “Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010”. In short, some 16 new and heavy regulations on banks and lending institutions will go into full effect. Here are some of the ways the Act will affect you…

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Flood Insurance Act Increases Rate

Flood insurance. It is a necessity for a good portion of home and business owners along coastal North Carolina. Flood insurance is a necessity that can save you if impacted by an event but can also feel like it can break you if the rates are too high. The rates started a mandatory rise due to an Act passed last year by Congress. Fortunately not everyone will be affected by this increase….

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Property Tax Questions and Answers

Property tax questions and answers. No matter where you live, if you own property then you are going to pay some type of tax. Carteret County and the cities and municipalities of the Crystal Coast are no different than anywhere else. Depending on where you live you may have taxes that include not only county tax but city, fire, rescue, solid waste, water, beachfront and others. Have you ever wondered how the value of your property is…

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Mortgage Rates Spike Then Slide

Mortgage rates climbed at the fastest pace in two months last Friday, May 3 as a result of the just released “Employment Situation Report” for April. This report which is a product of the US Bureau of Labor showed that unemployment decreased by 673,000 since the beginning of the year. Good news in the job market tends to cause lending rates to increase….

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Flood Insurance Rate Change Coming

Flood Insurance. Get ready! The National Flood Insurance Program will be raising rates October 1, 2013. Will you be affected? Will there be additional rate hikes coming to the coast? In 2012, the U.S. Congress passed the Flood Insurance Reform Act of 2012 which calls on the Federal Emergency Management Agency (FEMA), and other agencies, to make a number of changes to the way the NFIP is run…

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Coastal Property Insurance Pool

The Coastal Property Insurance Pool, formerly known as the Beach Plan, was created in 1969 by the North Carolina General Assembly to provide an adequate market for essential property insurance, ensuring the economic welfare of the beach and coastal areas of North Carolina. The Coastal Property Insurance Pool is not a facility of North Carolina state government; however, the plan of operation is subject to…

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