This was an April Fools Joke.
Did you hear about the new real estate ban signed by President Obama earlier today?
In a bizarre, shocking and unexpected move today, President Obama signed a bill today outlawing ALL Creative Real Estate techniques.
The ban will take effect beginning in September 1, 2010.
He followed by saying, “These investors must be dealt with. And no longer will we tolerate American homeowners being a target of blood hungry real estate investors.”
Obama was hit with some harsh criticisms from the right, leaving real estate investors in complete disbelief.
As far as I can tell- it looks like all wholesaling activities, lease options, and buying homes from homeowners facing foreclosure is a thing of the past beginning Septemeber 1, 2010.
Plus, there will be no more short sales to investors – all short sales must be sold to the person occuping the home. And to make matters worse – all foreclosure properties can now only be purchased from homeowners planning to live in the home as a personal residence.
Seriously I wished Obama would worry more about the country’s trillion dollar debt, and the war instead of screwing around with honest real estate investors.
This really gets my blood boiling – I’d love to hear what you think-
But more importantly – what can we do? I feel we need to band together to fight this new bill.
Let me know what you think – comments are open below-
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