The hot mortgage topic these days is the American Homeownership Act of 2007 Bill: H.R. 1852 and the anticipated changes that it is expected to bring to lending guidelines for FHA Mortgages. The entire Bill can be found at H.R. 1852 for those of you who would like to see all the details of the Bill. However, Rick Grand did an excellent job on summarizing some of the highlights of the Bill in his blog tilted H.R. 1852 Passes the House for those of you that are not up to reading the whole Bill.
The House passed this Bill on September 18th and the Senate Banking Committee passed their version of the Bill on September 19th. HOWEVER, the bills don’t match therefore it goes to conference to resolve the differences. Once this is occurs it Bill will go to the Senate for a vote. We in the Real Estate Industry can also play a major part in the passage of the this, by contacting our Senators and asking them to support it when it comes up for a vote. This can be done in a couple of ways. First you can call your two Senators and voice your support or you can go onto the website for Realtor Action Center.com and be a part of the Call To Action that they will put out at that time. We at McCue Mortgage will be staying on top of this and I will put out another blog making you aware that this Call for Action is now up.
The steps for being part of this effort are very simple and I am including them at the end of this Post, and will Post them again when the time comes for us to take action on this. What Realtor Action Center.com does is provided a letter that you can send to you Senator directly from their site, asking your Senator to support this Bill when it comes up for a vote. You can either use their letter as provide or you can edit it. In the mean time you might want to go on this site and register ahead of time. You can also check out their other "Call For Actions" that might impact you. The steps that you need to take are as follows:
- www.realtoractioncenter.com
- Scroll down to the blue box and click on Take Action Now.
- Select option 1, 2, or 3 (Each is defined on the screen)
- Complete the sigh-in fields and click "Sign-Up", review accuracy of your data and click" Confirm"
- Select "Your Options - "Home Page"
- Scroll down the page and select the "Call For Action" that you want to be a part of and "Click" on it.
- You will be provided with a sample letter that is appropriate for that "Call For Action". As I stated before, the letter can be partially edited. Make whatever changes you want and send it to your Senator.
I urge all of you to became familiar with this site, and be ready to take ACTION at the appropriate time.
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
