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Open House Sunday 1-3PM 2990 Pebble Beach Circle, Fairfield 7bd/5.5ba w/over 4000sf. 2bd/1.5ba 1st flr. Lots of upgrades! Vinyl plank flrs & plantation shutters thruout most of home. Beautiful..too much to list! $1,099,900

Cole & Renee Neuman

DRE#01386900 & 01231287 or 249-2702

Open House Sunday 2-4PM 1461 Stonewood Court, Fairfield

Beautiful upgraded 3bd/2.5ba, 3,000sf! LR & DR/Den/Office. Kitchen w/cherry cabinets, granite, movable island, SS applncs. Great room w/adjacent 2nd DR & fp. OWNED Solar. New Tankless water heater, windows, HVAC, fencing & in/out paint...$799,995

Well, how do you like that!

Thanks to the Daily Republic, the National Association of Realtors, the Mortgage Bankers Association and other consumer advocacy groups fighting for the working class and the American Dream, HUD secretary Martha Fudge and the Biden administration finally announced a 30-basis point reduction in the annual mortgage insurance cost for FHA loans this past week.

This is a good step in the right direction, and after many articles written by me over the years criticizing the state and federal government, I have to say, I commend and appreciate this move.

The next thing they need to address is the nonrefundable 1.75% up-front mortgage insurance premium HUD charges on FHA purchase money loans. I suppose they can justify this high fee in exchange for the risk associated with a loan that only requires

3.5% down and HUD’s willingness to take on lower credit scores and higher debt ratios than conventional loans and private mortgage insurance (PMI) companies, but it doesn’t seem fair that homeowners that sell or refinance the house and pay off the FHA loan during the first one to five years don’t get any refund of the unearned insurance premium.

This new 30 BPS reduction in FHA mortgage insurance will save a homeowner that needs a $500,000 mortgage $125 per month, which is better than a sharp stick in the eye, but now we need the Fed to stop raising rates because first-time homebuyers can handle 5.5% to 6% but 7% is tough.

This improvement in affordability should moti-