15 Feb Update on – The Seller Finance Enhancement Act
Here is an article forwarded to Illinois REIA about The Seller Finance Enhancement Act by my good friend Jeff Watson, Attorney at Law. Jeff also works for the National Real Estate Investors Association.
By Jeff Watson on Feb 15, 2017 in Real Estate Investing
I want to pass on this update from the Seller Finance Coalition (SFC):
The Seller Finance Enhancement Act
The Seller Finance Coalition (SFC) is excited about the prospect for legislative progress in 2017. The incoming administration is expected to move quickly with a number of agenda items. The Seller Finance Coalition has been active, already meeting with past co-leaders, Rep. Roger Williams (TX-25) and Rep. Henry Cuellar (TX-28), who expect The Seller Finance Enhancement Act to be reintroduced in the near future.
We expect this session of Congress to be amongst the busiest in recent memory. President Trump has proven that he’s not afraid to push his agenda, as seen by the multiple campaign promises that he has already fulfilled. From regulatory to immigration reform, the President has already produced a significant amount of change that has caused a lot of heads in Washington to spin.
Within the next couple months, we expect Congress to address Obamacare repeal and replace, tax reform, and a new budget. However, what this legislation actually looks like is still very much up in the air. The administration has indicated that it will not remain on the sidelines.
The Seller Finance Coalition was formed in February of 2014 to advance the interest of the seller finance industry. Founding members of the SFC include Glenn Lee of Texas Funding, Bob Repass and Eddie Speed of Colonial Funding Group, Scot Campbell of S.R. Campbell Properties, and Doug Smith of My House Deals. Last year the Seller Finance Coalition continued to grow with the addition of several new members.
The Bill will remain very similar to past Seller Finance bills with small adjustments made to optimize our political strategy. We will update all members with specific language as soon as the bill is reintroduced.