Reply To: Real Estate investors and President Trump

[Lance Thompson]

Okay,

Happy Monday on April 24th, 2017 good people. Here’s the latest that I’ve read according to an article on USAToday.com on the Financial CHOICE Act…………

While it is anticipated to easily pass in the House, as of right now the legislation appears unlikely to gather the 60 votes in the Senate in its current form. So it looks like President Trump plans to attack the Dodd-Frank law from the other angle by:

#1) denying funds to enforcement agencies

#2) appointing banking-friendly regulators

#3) easing back on Dodd-Frank enforcement

 

Guess there’s always more than 1 way to skin a cat. I have heard whispers on CNN though that if Republicans can’t get Democrats to “play-ball” that we may see a change in Senate rules in order to get legislation passed…….i.e., they may change the rules to make it where Republicans in the Senate only need 50 votes or more in order to pass legislation. If that happens then the Financial CHOICE Act will definitely be passed and signed into law seeing that Republicans currently hold 52 seats.

So my prediction is that what will likely happen out here across the U.S. is that banks will begin offering much more investor-friendly loan packages that require much lower down-payment percentage requirements for rental properties whether the Dodd-Frank law remains in-place or not because as far as the law being enforced, the attitude will be “Who’s gonna stop us??”

 

Keep your eyes and ears open.