Changes in Federal Laws Might Affect Orange County Residents and Beyond
As many of you know, I am very involved in Orange County real estate and have been for over 25 years. I am very proud of the loyal clientele that I have built during my time as an Orange County Realtor and recognize that being a top real estate agent means going this distance. This includes supporting and fighting against local and federal legislation that could affect my clients and future clients abilities to buy and sell homes in Orange County, California.
After September 30, thousands of individuals looking to buy their dream home might not be able to. Many home owners in certain communities can only acquire a federally backed mortgage though the National Flood Insurance Program. In cities where there is no private insurance and since standard home owner policies don’t cover flood damage, housing markets in many areas will come to complete standstill unless this program gets reauthorized. Think this doesn’t affect you since there are not many floods in Orange County? Think again. Without this insurance program the burden for flood clean up will fall to you, the taxpayer, in the form of federal post-disaster insurance.
I believe we need to make permanent the current loan limits for FHA, Freddie Mac, and Fannie Mae to ensure the affordability of mortgage credit for hundreds of thousands of responsible and credit-worthy American families. Right now interest rates are at an all-time low, and Orange County residents with good credit and stable jobs should have no trouble qualifying for a great home loan. Let’s make sure that the American Dream of home ownership isn’t crushed for many and that we aren’t saddled with increased taxes. Contact your local Congressman today.
For all your home-buying and selling needs, call Cheryl Marquis. Whether you are looking to buy or sell a beautiful home in Orange County, she can help you!
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