Fat Check for FHA

FHA' s new fat check $ 30 million

HUD write’s itself a blank check on the backs of American Borrowers.

FHA is in the black, in fact they are profitable but they stuck

this thirty million dollar charge in 2015 and God knows 

how much in the future hidden in Senate Bill 2438.

The Senate never voted on the bill, there in the fine print is an 

okay to charge on your back what looks like a four percent surcharge. This is one fat check.

A mere forty dollars per one hundred thousand sounds small

 but not when you do the math. 

In three years it will be nearly a billion dollar bonus to all the 

management of the federal Housing Administration. 

They claim they need new software, but cough cough.

Don't worry, it will only make your mortgage cost more.

Call your Senator and put squash on big spending

for government jobs, unless of course you can 

grab one. 

Wouldn't we all like a starting salary of $155,500? 

Then pay yourself an unlimited bonus…

Full text of Senate Bill 2438 here https://www.congress.gov/bill/113th-congress/senate-bill/2438 

Caroline Gerardo

opinions are my own

Be Grateful

Condo For Sale Open House Dana Point

dana point condo for sale

Dana Point Condominium for sale $349,999.00
Open House November 8^th 2014 11:00 AM to 2:00 PM

25611 Quail Run Unit number 24 upstairs in back of complex facing the Creek and Ocean

Dana Point California 92629

Where can you find a bargain so close to the ocean?

Bike path and peek of ocean view.

Upstairs unit allows privacy and the feeling of being in the trees.

This clean unit is ready to move in. Owners have upgraded the kitchen with lovely butcher block counters. Sit on the balcony and enjoy your morning coffee.

Watch the birds head out to Doheny Beach and the sunrise behind them. Stroll to the park and Dana Point Community Center. Or take run on San Juan Creek trail down to historic Doheny Beach. Enjoy ocean breezes in the evening and relaxing lifestyle.

This unit makes a nice retreat as second home, could be great investor property that can be cash positive or first time homeowner.

There are two large bedrooms, and two contemporary

Gate code for added solitude.

Spinnaker Run is off Del Obispo Street and Alipaz

OPEN HOUSE SATURDAY NOVEMBER 8th Dana Point Condo

Let's Find Out How You Can Save! Rate Sheet as of 11/7/2014   25611 Quail Run #24 Dana Point Loan Description 30 year Fixed 7 Year IO       Rate 4.250% 3.750% 0.000% 0.000% 0.000% APR 4.299% 3.799% 0.000% 0.000% 0.000%     2 BED 2 BATH CONDO built 1982 914 square feet Down payment $ 34,999 + second of $35000.00 Need $43000 to close 4.25% 30 year fixed first   $1313 principle and interest + $175 2nd + $383 HOA + $351 Tax + $49 HO6 = 2271 total payment APR 4.299 Estimated income needed little bills $96000. owner occupied need FICO 721 this is not a commitment to lend rates as of 11/7/2014       Caroline Gerardo Senior Loan Officer NMLS #324982 Cell 949-637-8190 Office 949-784-9699 eFax 855-883-4303   CarolineGerardo@eaglehm.com www.eaglehomemortgage.com/carolinegerardo   Eagle Home Mortgage 8105 Irvine Center Drive Suite #500 Irvine CA 92618   PHILIP R SMITH   01918824 949-292-6050 Mobile 949-495-1800 Office     philiprsmith@bhhscal.com http://www.bhhscalifornia.com/real-estate-agen   BERKSHIRE HATHAWAY CALIFORNIA 29982 IVY GLENN DR #100 LAGUNA NIGUEL CA 92677 This is for informational purposes only and should not be relied upon by you. BERKSHIRE HATHAWAY CALIFORNIA is not a mortgage lender. Contact Eagle Home Mortgage directly to learn more about its mortgage products and your eligibility for such products. NMLS #849059 CA #813I609 Universal American Mortgage Company of California, dba Eagle Home Mortgage of California. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. RMLA #4130383, NMLS #252392. Sample APRs shown are based on the rates and terms posted above factoring in prepaid interest and closing costs. Rates vary daily and may change or may not be available at the time of loan commitment, lock-in or closing. Specific loan terms apply and consumer is subject to qualification that includes, but is not limited to, owner-occupancy, minimum down payment and credit score requirements and/or any changes in investor guidelines or programs. This is not a commitment to lend. 6/12