Thank You for continually speak strongly on this issue. I can’t agree with you more on the point you made to Royal T. This is a BIG issue!
And with the way things are going, this is a battle just beginning, if we think this is the only forced , big government, intrusive legislation coming down the pipeline to our new “change, ” get ready. We can dismiss it, as “it won’t affect us, or it’s nothing to worry about,” well, realize enough of these small battles lost, we wake up one day and realize we will have lost the war (that it has affected us and will be something to seriously worry about. We need to stand up NOW and hold our ground, not allowing them an inch so they won’t take a mile. I have emailed Fox News and other news stations supportive of our viewpoint, also Sean Hannity who had positive results with the property rights issues of Eminent Domain on his program.

Just read this from Bill Bronchick:

[TRUNCATED]

What are everyones feelings after reading that too?

Carey

Hi, Carey! Thanks so much for commenting. Just as I did with AJ (who also posted Bill’s email) I edited out Bill’s remarks for sake of space, but they’re well worth reading, as well as hearing the response from Vena Jones Cox and Peter Conti.

Bill’s remarks and Vena/Peter’s response are all posted here in my follow-up post. I invite everyone to read and listen to what they said, and make up your own mind where you stand.

Thanks again for commenting!

…jp

[TRUNCATED]

I hope this sets everyone’s mind more at ease.

AJ

Hi, AJ – thanks so much for your comment! For the sake of space, I edited out Bill’s remarks, but they were juicy indeed in response to the fanfare surrounding this bill.

I’ve re-pasted them here in my follow-up post to this post. I invite everyone to read what Bill said in this post.

Thanks again for your comment, AJ, and for pointing out Bill’s response.

…jp

As I said, it’s all about mass exposure! Let’s go gettum!!!

Mike

I, and my Company do NOT lend money and are NOT under
“… any other criteria the Federal banking agencies may prescribe;”

Certainly ain’t “amortizing”; I have no “fixed rate or an adjustable rate that is adjustable after 5 or more years, subject to reasonable annual and lifetime limitations on interest rate increases;

Anyways, “Wholesalers” have no worry whatsoever regarding this Bill… we don’t sell properties, we sell Contracts for a nice profit!

~ Royal T ~

Hi Royal T,

I respectfully disagree. It may not effect you directly since you don’t deal in owner financing right now, but any unjust, illogical piece of legislation like this that effects our industry should concern us.

First, there’s the nobility of looking out for each other. If you see your fellow man being harmed, let’s agree that it’s best to help take up his cause as opposed to turning away simple because it’s not hurting us (yet).

Second, there’s always a trickle-down effect to these things. For example, I’m sure this will effect some of the people you sell to as a wholesaler — and if it negatively effects them, it can effect you. It’s kind of like saying you don’t have to worry about the recession or economy at all b/c your income/vocation are perfectly secure (for now). But doesn’t it trickle down and effect all of us in some way to some extent? Even if you’re not the one laid off, in bankruptcy or in foreclosure? Gas prices go up, the gov’t continues seizing bigger and bigger pieces of America’s backbone, onward into Socialism we march…yes, it effects us all.

And finally, just b/c you’re a wholesaler doesn’t mean you’ll never come across an exceptional wholesale deal that will involve (or at least could involve, if you think to ask for it) some owner financing. I was lucky enough to learn from a friend in 2006 that I should ALWAYS include an owner financed offer along with my cash offer when dealing with individual sellers. Cashing out is NOT always the most important thing to everyone…and passing along some sweet owner financing on a deal w/a nice interest rate and no balloon…well that can be a wholesaler’s dream.

So…the morale is…I challenge you to see this a different way. It effects you.

My best,

…jp