Blog
HR 1728 Update
August 19, 2009 by cathy · Leave a Comment
As many of you know, the US House of Representatives recently introduced a bill (HR 1728) that would restrict seller financing, and put the goverment into our business.
A quick update – the bill was sent to the Senate Banking committee, and has apparently stalled there. Chris Dodd, Chairman of the committee, has said that the bill isn’t a top priority, implying that there is more important stuff to be done. Hopefully this means the bill will die in this session. There is always a chance, however, that it could come up again.
On the bright side, the National Association of Realtors has joined us in the fight against it. I guess they realized that seller financing is a powerful tool, especially in a slow market with such an uncertain lending environment.
It’s extremely important that we investors stay on top of all the legislative changes coming down the pike, so I thought I’d post a quick update.
Lets have less goverment and more self control of our business!
