Cervantes Introduces Resolution Calling upon President to Help Homeowners
(SACRAMENTO) – Assemblymember Sabrina Cervantes (D-Corona) introduced a joint resolution with Assemblymember Sharon Quirk-Silva (D-Fullerton) 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, urges the President to reinstate a U.S Department of Housing and Urban Development (HUD) rule that would cut mortgage fees for many Californians.
“Home ownership is fundamental to the prosperity of our middle class,” said Assemblymember Cervantes. “We as legislators should do everything we can to support Californians who want to buy their own homes.”
“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 Assemblymember Quirk-Silva, “so that hardworking families, veterans, seniors, and first-time homeowners have an affordable place to call their home.”
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. One of the first acts made by the President upon taking office in January was to rescind that rule. Had the rule not been rescinded, it would have saved eligible California homeowners an average of $860 per year.
“The President has made it harder for many Californians to buy their own homes. AJR 4 urges the President to reinstate the mortgage fee cut made by his predecessor and save Californian homeowners hundreds of dollars a year,” said Assemblymember Cervantes.
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.
Sabrina Cervantes represents the 60th District of the California State Assembly, which encompasses the communities of Corona, Eastvale, Jurupa Valley, Norco, and a portion of the City of Riverside.