My New Blog

All,

This new proposed bill called H.R. 5072 that is being created / endorsed by U.S. Congresswoman Maxine Waters, we need all to write your local representatives to stop this Bill H.R.5072. This bill is looking to increase FHA mortgage insurance from the now .55% monthly mortgage insurance to an outrageous 1.55% per month monthly mortgage insurance.

The impact of this Bill H.R. 5072 will be so costly to the new First Time Home Buyer or anyone that is looking to refinance that even if the rates are low by having this new increased mortgage insurance is like increasing the interest rates... click this video link that will demonstrate what happens to someone that is if they are borrowing for a loan at 5% on a 200,000.00 loan and what this will do to the home buyers. The link is by the guys Frank Garay & Brian Stevens form Think Big Work Small. Here is the link.... http://www.thinkbigworksmall.com/mypage/player/tbws/28066/1338551

The FHA loan program is one of our most stable mortgage products out there in the mortgage market today, and if we allow this Bill H.R. 5072 to pass this will only hurt our already distressed real estate market.

Please everyone pass this along, reblog, tweet, facebook this article, pass this along to anyone and everyone you know, we need to have this Bill H.R. 5072 not pass.