If you're a REALTOR, you may have already received an earlier message from NAR asking you to contact your Member of Congress. If you have sent a message to Congress, thank you for your support. If you didn't receive the first message please take a moment to add your voice to the growing number of REALTORS from across the nation who have asked for Congressional action to stabilize the mortgage market.
Stabilizing the current mortgage market turmoil requires an immediate and significant response from Congress. It is strongly recommended that you contact your Member of Congress to ask for his or her YES vote on H.R. 1852, the Expanding American Homeownership Act of 2007 and a YES vote on the Frank-Miller-Cardoza amendment.
Visit this website:
http://takeaction.realtoractioncenter.com/campaign/Support_HR_1852_FHA_Reform
to learn more about reforming the FHA program.
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Done, got a note from MI Association of Reators President today too. Good idea to post it here.
Great post. Congress needs to step in. Thanks for the link.
Good heads up Chris.
Oops. I'm glad you posted this. I think I did get that message, but I had too many to sort through so I just glanced and deleted that. I'll follow the link right now.
This is truly a very important topic that everyone needs to be well aware of in our changing market. Thanks for sharing this with everyone.
I did receive the call but ignored the email like I do with most mass mailing campains.... Just took a look at the bill and the basics call for higher FHA loans extend out to 40 years and reducing the 3% down-payment. Sounds like just shifting trouble to me to a government insured mortgage so all the deadbeats can get bailed out by the taxpayers.... Is this really a solution?
I think I got that yesterday. I voted. Hope others do to. Good to repost this!
That thermometer on your profile makes it hard for me to come to your blog. It was VERY cold here this morning.
Thanks, Chris. Got it, took action, and now we wait. It NEEDS to happen. Appreciate you making the statement.
Jeff
Hi Chris,
I didn't see your post and I also posted on this subject yesterday. I am not a realtor, I am in the mortgage end and I can't stress enough how important it is for this bill to pass. I would like to add that the FHA reform proposes a risk based insurance premium rate, instead of the current system of the subm prime lending with a higher interest!
Did you know that the FHA Mortgage Insurance Premium revenues collected on every closing completely fund the FHA program. It is one of the only government programs that actually pays for itself! This is not a bailout! It will be a self sustaining program with a proven track record.
Good post that demands attention and repeating...I'll put the word out on my blog as well. Thanks for this .
Now Have a Blessed Day,
John Occhi, Hemet REALTOR®
Mission Grove Realty
Chris,
A quick update...I just wrote my own version of this important topic. I have links to the actual text, if anyone is interested.
Don't mean to hijack this, just want to get the word out...
Now Have a Blessed Day,
John Occhi, Hemet REALTOR®
Mission Grove Realty
Mi Casa Su Casa