Legislative Update: Support HR – 5301

July 4th & Seller Financing

Jeff Watson, legal counsel of the National Real Estate Investor Association and Real Estate Investor tells us that When meeting with a member of Congress or their legislative staff to talk about the pending bill, HR-5301, one of the first things that comes up is, “who is the original sponsor and who else is in support?”  When the member’s of Congress see how diverse the sponsorship of the bill is, you can tell they are optimistic.

This bill has support from members of Congress who are described as some of the most conservative and some of the most liberal.  They are joining together to support HR-5310.  Former Black Panther, Congressman Bobby Rush of Illinois (D), and liberal firebrand, Alan Grayson of Florida (D), both recognize the negative impact that Dodd-Frank is having on their constituency when it comes to home ownership.  HR-5301 is a solution to allow their constituents to buy properties with the help and assistance of owners who want to carry the financing.  We have a compelling argument, not just from a free enterprise perspective, but from a powerful multi-point political perspective.  Congressman roger Williams of Texas (R) is a powerful voice for free enterprise.

To continue moving forward with HR-5301, more co-sponsors need to be added.  We were successful in getting commitments from several members of Congress to join as co-sponsporsors on this legislation, and that momentum needs to continue.  We are asking you to do two things:

  1. Go to SellerFinanceCoalition.org and register as a grass-roots member by giving a minimum donation of $100.
  2. Contact your member of Congress at their local office by first faxing to them the 1-page press release that is available by clicking HERE.  Make sure you follow up with their office by calling later to thank them for considering cosponsoring the bipartisan legislation know as HR-5301, the Seller Finance enhancement ct.

Don’t just stop with your own efforts.  Get other investors and members of your REIA to join you.  If each member’s office receives multiple faxes and phone calls relative to this legislation, it’s going to raise their awareness.  Members of Congress want to back a bipartisan bill that is moving forward and looks like a winner because they have to go back to their constituents and tell them what they accomplished.  In this gridlocked political environment, very little is being accomplished.

It’s time to back this winning bill!

Blog Post from Jeff Watson.

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