Mortgages

Nationwide, as in Florida, buyers have been backing out of home purchases at a record rate, recent figures show. About one out of every six contracts to buy a home in Miami-Dade County has been canceled so far this year.

The leadership change comes amid scrutiny over credit union's lending practices.

A comprehensive analysis by CNN has brought to light significant racial disparities in mortgage approvals at Navy Federal Credit Union, underscoring broader challenges in Pensacola's housing market.

Home purchases by investors recently declined in the top 10 U.S. cities by market share — including Tampa. Even so, data shows investors still hold almost 25% of the market share, or the total sales made in the market.

The bank's mortgage-lending arm agreed to pay up to $320 million to resolve allegations that it bungled applications for the federal Home Affordable Modification Program.

Private equity firms have been snapping up properties in many areas hit hard by the recession. Some analysts worry that those bulk purchases will leave middle-class buyers out in the cold.

The average cost to close on a $200,000 mortgage is $3,754, according to Bankrate.com. But in Florida, homebuyers can expect to shell out a few hundred…