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Category: Florida Condotel Mortgage

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.

Court Affirms Miami Condo Tower Hurricane Damage Award That Disappointed Both Sides (FL)

The 11th Circuit Court of Appeals affirmed a jury verdict that found an insurer liable for $2.6 million in damages to a Miami condominium tower caused by Hurricane Irma, rejecting arguments made in appeals filed by parties on both sides of the dispute.  Read the entire article………………………………. https://communityassociations.net/category/fl_news/feed/

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Fall Guy – Chasing William Friedman, the mystery architect who designed Champlain Towers South

The June 24 collapse of Champlain Towers South in Surfside, Florida, left questions that will take years to answer: What caused the structural failure? What parties bear responsibility? What can be done for the survivors? And perhaps most critically: What other local buildings may also be at risk, requiring measures to prevent similar incidents, from urgent repairs to preventive evacuation and demolition?   Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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Hallandale Beach condos The Hemispheres in need of repairs but city has been slow with approving permits (FL)

There was concern and harsh words aimed at a South Florida building department Monday.  An engineer called the City of Hallandale Beach Building Department dysfunctional and incompetent in the wake of the Champlain Towers South collapse.  Residents of The Hemispheres want to get repairs done as soon as possible, but one of the biggest obstacles seems to be simply getting permits.    Read the entire article………………………………. https://communityassociations.net/category/fl_news/feed/

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Foreign Investment in U.S. Existing-Homes Falls 27% to $54.4B

NAR: It’s the lowest level in a decade. Foreign buyers purchased 107K properties, down 31% from the prior year, as the COVID-19 pandemic led to a strong global economic slowdown. For the 13th straight year, Fla. remained the top destination for foreign buyers, with 21% of all international purchases. #floridacondotels #floridacondotelmortgage #floridacondotelfinancing

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary 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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