(SACRAMENTO) – Assemblywoman Sharon Quirk-Silva (D-Orange County) introduced a joint resolution with Assemblymember Sabrina Cervantes (D-Corona) this week to call upon the President of the United States to save California homeowners hundreds of dollars per year in mortgage fees. The resolution, Assembly Joint Resolution 4 (ACR 4), urges the President to reinstate a U.S Department of Housing and Urban Development (HUD) rule that would cut mortgage fees for many Californians.
“Future California homeowners should be provided every opportunity to make their dream a reality. We must cut mortgage fees, and increase the quality of life for California,” said Assemblywoman Quirk-Silva “So that hardworking families, veterans, seniors, and first-time homeowners have an affordable place to call their home.”
“Home ownership is fundamental to the prosperity of our middle class,” Assemblymember Cervantes said. “Home ownership is the primary source of most middle class families’ wealth, and our state’s and country’s policies should encourage and assist Californians to buy and keep their own homes.”
Under the previous Administration, HUD issued a rule in 2016 that would have cut mortgage fees for many low-income and first-time home buyers. The first act performed by the current President upon taking office in January was to issue an Executive Order to rescind that rule. Had the rule gone into effect, it would have saved eligible California homeowners an average of $860 per year.
AJR 4 will next be referred to an Assembly policy committee by the Assembly Rules Committee. Click here to see the text of the resolution.
For further information, visit my website.
Assemblywoman Sharon Quirk represents the 65th Assembly District, which includes the Orange County communities of Anaheim, Buena Park, Cypress, Fullerton, Garden Grove, La Palma, and Stanton.