Thursday, May 19, 2011

Proposal of 20% downpayment on real estate transactions would kill the real estate market

I am going to contact Congress today,who is proposing requirement for 20% downpayment on all residential real estate purchases. At what price would most of America need a home to be at to comfortably do this or does congress want us to become a rental country?

What do they want home owners to do and who should home owners sell their homes to when they want or need to sell because they have too much house, need to move for a job and/or can no longer keep up with mortgage payments?

Members of Congress, keep the American Dream alive for obtaining home ownership and don't turn selling a home into an impossible situation. It doesn't matter what price a home is selling if home buyers cannot put a downpayment on. Would you rather people stop paying their mortgages and walk away from their homes because selling will be next to impossible regardless of home sellers' financial situation?

Don't turn the American Dream into the American Nightmare!

This proposal is awful for home buyers and home sellers. Hopefully it won't pass.
I will do what I can to fight for you and contact Congress today.

Thinking about selling or buying a home? Contact me to discuss a winning plan and how I can help you. I am anywhere you need to be in Metro DC

CELL: (301)943-4370
Adam Bashein
Weichert Realtors

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