Dallas, TX -- June 24, 2009 – NoteSchool™ spokesperson Sam Maropis will speak at the National Semi-Annual REIA Convention in San Antonio on Saturday June 27, 2009 over the most talked-about issue in seller financing this year, the Mortgage Reform and Anti-Predatory Lending Act, also known as HR1728.
The bill has already passed in the House by a vote of 300 – 114, and is currently being debated in the US Senate.
“The implications for the small scale seller financer could be far-reaching if this bill passes in its current form,” says Maropis, “and there is a legitimate argument to be made that this legislation was never intended to affect those people.”
Aimed at amending the questionable lending practices of large scale mortgage brokers and lending institutions, the bill contains verbiage that further limits the number of seller finance notes that individuals may legally create, without extraordinary fees and compliance laws.
The bill has real estate investors and consumers very concerned about the future of their ability to seller finance their own properties.
However the reality is that seller financing continues to fill the void that traditional lending cannot. Its higher growth rate in relation to conventional lending over the last two years is proof that the necessity for seller financing is going to increase as consumers’ access to credit narrows.
Consequently, the need for education in the seller finance industry is also increasing.
The Semi-Annual REIA convention will be attended by top real estate investors from all regions in the US and provides the perfect backdrop for informative communication about this hot issue. NoteSchool’s Maropis registers a positive outlook: “Hopefully, an informed public can influence their senators’ vote by providing concrete proof of the helpfulness of the seller finance industry to the mortgage problem; at the very least temper the clause that affects the little guy.”
The informative talk is schedule for Saturday June 27, 2009 at 8:00 am CST, visit www.NoteSchool.com/media.html for details. Maropis will give an overview of the bill, what it means for seller financing, and discuss the steps that NoteSchool.com is currently taking to react effectively to the proposed legislation.
States NoteSchool founder Eddie Speed, “In addition to public awareness about HR1728, education and solid training will play an important role as seller financing gains popularity and becomes a more legitimate option for property owners, investors, and consumers.”
NoteSchool.com provides ongoing live seller finance training seminars and home study programs for all levels of seller financers and notes professionals. For more information about the HR1728 or for information on the REIA convention speech, visit NoteSchool.com.
Media Contact: Info@NoteSchool.com
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