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Tag Archives: homeowners

Homebuilders, foresters optimistic about 2013

While there is still a long way to go to full recovery, two Mississippi industries – homebuilding and forestry – are expecting another bounce-back year in 2013. “There certainly is no housing boom going on,” said Marty Milstead, executive vice president of the Home Builders Association of Mississippi. “Some of our members are very, very busy; some need more work. ...

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When home buying factors can be financial, emotional

When it comes to buying a house, especially a starter home, there are many considerations to wrangle with before the deal is sealed. On the financial side, there are factors such as income, the chance of getting a low rate on a home loan or possibly tax considerations. According to the IRS, in most cases, taxpayers can deduct all of ...

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More insurers writing wind coverage policies on Coast

MISSISSIPPI GULF COAST — Traditional insurance companies are still generally avoiding coastal risks. But a few companies new to Mississippi’s coastal market are writing wind coverage for well-built homes near the waterfront. So are insurance carriers that are not licensed in Mississippi. Angelyn Treutel is an independent insurance agent and vice president of the agency South Group Insurance Gulf Coast. ...

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Renaissance Corp. accepted as member of FHLB Dallas

GULFPORT — Gulf Coast Renaissance Corp. was recently granted membership into the Federal Home Loan Bank of Dallas (FHLB Dallas). According to Renaissance Corp., a nonprofit organization focused on creating affordable homeownership opportunities and stimulating economic development through the small business sector, it is the first non-bank community development financial institution (CDFI) in the state to be accepted as a ...

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FNC Inc. index finds U.S. home prices still weakening

OXFORD — FNC’s latest Residential Price Index (RPI) indicates that U.S. residential property values continued to show signs of persistent weakening, ending in February with a seventh consecutive month-to-month decline. Despite sharply rising activities in existing home sales and new housing starts from a year ago, prices on non-distressed home sales (excluding foreclosure auction sales, REO sales, and short sales) ...

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Wind Pool buys $815M in reinsurance for upcoming hurricane season

MISSISSIPPI GULF COAST — Jackson County board member Mark Cumbest says Mississippi’s insurer of last resort has bought $815 million in reinsurance for the coming storm season. Reinsurance — essentially insurance for insurers — is a major driver of policy premiums. It protects the Mississippi Windstorm Underwriting Association from debilitating claims, such as those created by Hurricane Katrina in 2005. ...

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House passes insurance-discount legislation

JACKSON — The Mississippi House passed a bill yesterday to require insurance companies to offer discounts on costly hurricane coverage in five southern counties, including three on the Coast. Discounts are required by July 2013. They would go to single-family homes and some manufactured homes for meeting strong-house standards in the current building code, those established by the Institute for ...

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FNC Inc. index: U.S. home prices declined in December

OXFORD — FNC Inc.’s latest Residential Price Index (RPI) indicates U.S. residential property values declined in December amid signs of continued improvement in the job market and economic growth. With sales of distressed properties comprising a large portion of overall home sales, prices on non-distressed sales continued to reflect the downward pressure distressed sales have on underlying property values. December ...

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FEMA develops plan to waive repayment of improper disaster assistance

WASHINGTON — The Federal Emergency Management Agency (FEMA) has developed a plan to waive recoupment of improper disaster assistance payments that were disbursed due to government error, according to U.S. Senators Mary L. Landrieu, D-La., Mark Pryor, D-Ark., and Thad Cochran, R-Miss. Next week, FEMA will send letters to 90,000 affected individuals and households informing them they may be eligible ...

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Housing director's kickback/retaliation trial rescheduled for February

GREENVILLE — A housing agency director has received a month’s delay before she stands trial for allegedly taking kickbacks from a contractor and retaliating against a witness. Ann “A.J.” Jefferson’s trial was moved from today to Feb. 29, The Delta Democrat Times reported. Defense attorneys asked for the delay because of unspecified conflicts of counsel. Prosecutors did not object. The ...

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