Bad Credit Could Increase Mortages
Florida's insurance commissioner says the national credit crunch could lead to more home foreclosures. That's because the Florida Hurricane Catastrophe Fund, which provides backup coverage for insurance companies, is having a hard time lining up financing, Commissioner Kevin McCarty told the Senate Ways & Means Committee on Thursday. If the fund runs out of money, it sells bonds to cover remaining claims. It's unlikely the fund could sell enough bonds if a major hurricane should strike because the bond market is so tight, McCarty said. The state is exploring other options including a line of credit from the federal government. Committee Chairman JD Alexander, R-Lake Wales, said one alternative is to raise premiums.
- Millage Increase Could Help Alachua Schools Out of Budget Deficit
- College Tuition Could Increase Up to 15 Percent by 2013
- UF's Large Animal Hospital Puts Out Horse Owner Alert: "Bad EPM Drug"
- Credit Card Thief Arrested
- Woman charged with using city credit card has a record
- NCF Farmers Will Brave the Winter After Bad Hay Season
- Bad Weather Takes Out Gas Station Pumps
- Authorities In Marion County Looking For Thieves Who Stole Car And Credit Cards
- Gainesville Credit Union Robbed
- Suspects Arrested in Credit Card Fraud