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H.R. 3706 a Real Estate Business Killer - Read This NOW!

By
Mortgage and Lending with NEXA Mortgage, LLC - NMLS #: 1660690 - AZMB - 0944059 NMLS# 215987

Since the mortgage meltdown, more than 50% of new home loans are now FHA. Congress in their infinite wisdom, following Barney Frank's lead, is now pushing HR 3706 with Benanke's blessing. What is HR 3706? Just a bill that will require 5% down on all FHA loans and requires borrowers to pay the closing costs. No seller or lender concessions! You better get on the phone to your legislators now to stop this before it passes!!!

Another horrible bill is HR 1728 will stop no cost refinances and no cost purchases and make it more difficult for seller/owner financing. Barney and his gang must be stopped. These knee jerk reactions and over regulation will kill our business.

http://www.opencongress.org/bill/111-h3706/blogs?sort=toprated

http://www.hr1728.org/

STOP HR 1728 and HR 3706

Watch this disturbing video from CNBC about what REALLY started this mess and who Barney Frank should be after....

http://dailybail.com/home/you-want-a-triple-aaa-just-give-me-some-more-money-5-star-cl.html

 

 

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Joel Weihe
Realty World Alliance - Wichita, KS
Helping you to use your VA home loan benefits

Um yeah, that's a problem.  Even if I get folks with 5% down, they certainly rarely have that PLUS closing costs.  My business is 90% first-time buyers, I'll be in the soup line if this happens, LOL. 

Oct 06, 2009 12:52 PM