HR 1728 is an Infringment on Personal Property Rights

Have you heard? Because of the recent disasters in the US economy and in the number of rising foreclosures, the US Government is attempting to eliminate personal property rights for American citizens. This is absolutely an abomination of what makes America great: the ability to own your home and property in general.

Basically HR 1728 is trying to instill some uniformity in mortgage lending and to establish more consumer protection. However, what it really does is eliminate homeowner ability to control the way the want to sell their home. If this bill is passed, it could do the following things:

1. Make owner carry financing, wrap around mortages, and private money lending illegal.

2. Require that homeowners become licensed real estate agents and mortgage brokers to sell their own home

3. The Government can take your home if you are in default or at RISK of default.

4. Extremely strict and rigid rules and regulations of every real estate transaction.

I havent even begun to scratch the surface of all the negative impacts of this bill. I won't write too many things about it because it would turn into an entire 15 page essay. All I can say is that I am afraid, very afraid of what could happen if this bill passes. What is also scary is that the bill already passed in the House in a record 3 days! What is the true agenda of this bill if Congress is so eager to pass it in 3 days?? My thoughts are certainly not the personal property rights of US citizens, otherwise they would have taken a bit more time and care in the contents of the bill.

I urge you to contact your US Senator and tell them to vote NO on HR 1728. Our property rights depend on it!

Please check out these links for more information on HR 1728

Mortgage Reform and Anti-Predatory Lending Act

U.S. Senate Seizing Control of Real Estate Investing

Is Real Estate Investing Over?