Honorable Senator's Bingaman and Udall: I urge you to vote NO on HR 1728. Included in the bill are restrictions on owner financing which are unnecessary and damaging. Owner financing is not a loan, there are no points, fees or charges, and owner financing had nothing to do with the financial crisis we are experiencing. The majority of owner financed transactions in New Mexico are non-conforming, meaning that banks, mortgage lenders and mortgage brokers would not be able to finance them under any conditions, before or after the financial crisis. Simply put, if this bill passes, HUNDREDS of properties in New Mexico will sit idle, unable to sell because there will never be financing available. The passage of this bill will put the livelihood of many real estate sales professionals, title companies, escrow companies, investors, businesses and private individuals at risk needlessly. I urge you to consider the real cause of the financial crisis and leave owner financing, a healthy and vital industry, out of HR 1728 COMPLETELY.

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