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Call To Action

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

The Mortgage Action Alliance put out a Call To Action this week to oppose the extension of the Fannie Mae and Freddie Mac guarantee fees (g-fees).  G-fees were adopted in 2011 to help protect Fannie Mae and Freddie Mac against losses from bad loans.  But now that the Tax Payers have dug Fannie Mae and Freddie Mac out of the financial hole they were in, the discussion should be to eliminate the g-fees not extended them to fund non mortgage and homeownership related costs.

The attempt to extend the g-fees beyond the original 2021 date is being done under the guise of improving the nations highways, but we all know once the g-fees are extended they will continue to be extended.  This is another effort of putting more of the tax burden on unsuspecting homeowners.

Hope everyone reading this blog takes the time to take action on this issue.  It only takes a couple of minutes, and could save individual homeowners thousands of dollars.  Just click on the Call To Action below and follow the instructions.  Also feel free to re-blog this and pass this information along to those who follow your blog.

 

 

 

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 Info about the author:

George Souto NMLS# 65149 is a Loan Originator 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, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Posted by

George Souto
NMLS# 65149

C (860) 573-1308
CALL 7 Days/Wk
Fax (860) 760-6891

Email Me
About Me
My Blog

I am a Mortgage Loan Officer who can assist you with all your mortgage & refinancing needs in
CT, and RI

I can assist you with your Conventional,
FHA, CHFA, VA, USDA, & 203K loan programs.

I reside in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Haddam. E. Haddam, Higganum, Chester, Essex, Deep River.

 

Comments (44)

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning George. The sad part of all these additional fees, this is just another tax this going to be paid by the consumer. Our Government is always busy figuring out how to add more taxes, his is just one of the ways.

Great job with your post.

Jul 24, 2015 06:09 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Once any fee or tax is in place....getting rid of it seems nearly impossible....and getting it seems so much easier.

Jul 24, 2015 07:06 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the post. You have expressed it well. I hope MAA will be successful .

Jul 24, 2015 08:33 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Thanks George for sharing this MAA information with all...just like other programs it becomes so convoluted and the wrong taxes are not being used for the right reason.

Jul 24, 2015 08:59 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

George,

You're reliable!

You're credible!

You're current on mortgage news that impacts consumers, buyers, sellers, and the general public. I can always count on you for the truth!

Jul 24, 2015 10:42 PM
Dennis J. Zisa & Associates, Inc.
Dennis J. Zisa & Associates, Inc. - Camden, NJ
31 years in So. Jersey and the Greater Camden area

Just another example of how fees, taxes, and all other forms of government intrusion, almost never go away, once being put in place.    

 

Jul 25, 2015 12:33 AM
Dwight Puntigan
DRP Realty, LLC - Saint Peters, MO
Dwight Puntigan

Too large a government creates socialism and will run out of our money until it finds more ways to rob our pocket book.

Jul 25, 2015 02:42 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

George, I'm glad you brought this to our attention!

Jul 25, 2015 03:08 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

George - It is amazing that the government even thinks its logical to have homeowners pay fees to help fund the nations highways, and hide it under the G-Fees label. If the funds collected have already dug Fannie Mae and Freddie Mac out of the financial hole they were in, then it is time to eliminate those fees.

Jul 25, 2015 04:04 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

George what a great public service announcement, hope everyone is reading and taking action, Endre

Jul 25, 2015 10:08 AM
Rob Spinosa
US Bank - Larkspur, CA
Mortgage Loan Originator, Marin County

Great idea to post these out.  Not only do I support them, I forward them to our office.  However, this is a brilliant idea as we need all the support we can get.  Great work, George Souto .

Jul 25, 2015 10:43 AM
Claude Labbe
RLAH / @properties - Washington, DC
Realty for Your Busy Life

Nick T Pappas sent me.

I'd made calls a few days ago when MIKE ROCK brought it to my attention.

I'd rather have 3 people tell me than have no one tell me.

Jul 25, 2015 01:27 PM
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

Claude Labbe   I HAVE SEVERAL people in my brain... not as many as Cybil , but close... so we have  George, nick, mike, claude and the rest of the voices in my head. HEY!!!! we could all run for congress. seriously, Claude thanks!

Jul 25, 2015 01:31 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I've read this on another blog & it's really pathetic.

Jul 26, 2015 09:33 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear George,

Already put in my 49 cents on this.

Jul 26, 2015 01:10 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi George.  Getting rid of a profit center will be hard to do.

Jul 26, 2015 08:59 PM
Som Trivedi

Thanks for letting us know.

Som Tivedi- Hartford Home Inspector

Jul 28, 2015 09:49 AM
Kimo Jarrett
Cyber Properties - Huntington Beach, CA
Pro Lifestyle Solutions

I find it utterly amazing that the American voters keep electing the same people to both houses of Congress and expect to see changes in government.

We need to vote all of them out who don't support term limits, reduce the fraud, waste and abuse and eliminate the perks and other benefits these do nothing representatives have been getting.

Whose to blame for the laws, the politicians or the people who voted for the politicians? Make the call but more importantly, get involved and vote for leaders who support term limits. 

Jul 28, 2015 05:46 PM
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

George, thanks for sharing. I will past this up to our local board's political committee. 

Jul 28, 2015 09:59 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Government get rid of a fee?

We can try, but once they get a fee approved, they have spent the money and they will never give it up.

Lets hope that this time we are successful!

Thanks for pointing this out George.

Jul 29, 2015 04:01 PM