Meeting ~ concerns regarding the impact of commercial loans

THIS MEETING HAS BEEN RESCHEDULED! Here is a copy of the email I received....

Good afternoon, Everyone~ As of this afternoon, the June 22nd Round Table forum has been rescheduled to be held in August. The exact date will be determined at a later time and we will notify you as soon as possible. We are seeking testimonials to be submitted in advance on funding-related issues so that we can move these concerns forward to our Congressman and avoid a significant credit crisis in coming months/years. Within the residential side of the market, concerns involve appraisal issues, use of higher credit scores, long-term implications for increased numbers of FHA loans, jumbo loans, and other funding concerns. Commercial related concerns include those commercial practitioners who are directly involved with loans being “called” on retail/office buildings, especially when payments have been maintained in a timely manner and determining options to refinance are unavailable. We also need to have input/recap(s) provided by Appraisers, Mortgage Bankers, Mortgage Brokers and those in the lending field. If you or your client(s) have been impacted by any of these issues, please email a short recap of your situation/concerns to communications@sabor.com as soon as possible. Thank you, Janelle Janelle Chapman Administrative Assistant Political & Community Affairs San Antonio Board of REALTORS® 9110 W IH 10 San Antonio, TX 78230-3112

Here's a repost for those interested in attending ~

“Concerns Regarding the Impact of Commercial Loans Maturing with a Lack of Funding Sources for These Loans”

Lack of funding on these commercial loans could have such a negative impact the entire real estate market which may result in a new low for our industry. Thus, the San Antonio Board of Realtors® is trying to take proactive measures to insure that this potential commercial credit crisis is worked through now and SABOR needs the San Antonio commercial real estate industry’s help. While in DC in April, Barbara Tarin and others visited with Congressman Rodriguez about structuring a function at SABOR to hear testimonials regarding credit concerns within our industry. So far, only Congressman Rodriguez has confirmed but all four of our Congressman have been invited and may participate. What is at the forefront of all of this is concerns regarding the impact of commercial loans that will be maturing in coming months and the lack of funding sources for these loans. Mark your calendar to attend this summit with the congressmen to voice your concerns: Date: June 22 Location: SABOR Auditorium Time: 9:30a.m. - 11:00 a.m. Attendance: 100 All interested parties are encouraged to attend this free summit so please pass this information on! All attendees must RSVP for this summit, but all attendees who would like to share testimonials with the congressmen on their transactions being affected are asked to specify that they would like to present information on these transactions so they can be added to the list of presenters. In addition, please be prepared to provide the congressmen with copies of these transactions to take with them when they leave. Please RSVP to Tracy Ballard, CCIM Administrator at tracy@sabor.com by Friday, June 19th.

Tracy Ballard CCIM San Antonio/South Texas Chapter Administrator http://chapters.ccim.com/sanantoniosouthtexas San Antonio Board of REALTORS® 9110 IH 10 W San Antonio, TX 78230 Office: 210-593-1200 x155 Fax: 210-593-1251