uh oh...NJ Legislation could be very bad for investors....

[Funder]

      I think you need to follow moziah1's lead and get involved politically.  Policy like this has consequences both intended and unintended.  Often times, what these democrats intend to accomplish never gets done, and when the constituency gets tired enough of dealing with all of the fall out from the unintended consequences and votes for someone who actually believes in imperialism and capitalism, the damage is already done.
     This could also be policy set fourth by banks who don't want to share their potential gains from forclosing on properties with small fish investors.  I'd be interested in seeing who wrote this bill, and what kind of work they do, and what kind of political action commitees have the author in their pocket.
     Are mortgage lenders subject to similair mandates with regard to the 90 day delinquincies?
     Stop Foreclosure investors and purchase-leaseback-option deals are sometimes a homeowner's defense against foreclosure, does this legislation introduce any guidelines or mandates for banks or mortgage lenders during the forclosure process?
     Wouldn't placing this kind of activity under the Commissioner of Banks create a conflict of interest?
     I would be interested what two specific organizations think of this legislation:
Office of the Comptroller of the Currency
Ombudsman
1301 Mckinney Street, Suite 3450
Houston, TX 77010

Office of Thrift Supervision
1700 G Street NW
Washington, DC 20552
     The disclaimer mandate makes sense, but I would think that savvy investors would have attorneys who already thought of that.  I really can't understand why they would introduce this legislation...has anyone in support of this legislation offered examples of the "fraud" that has been occuring in the pre-forclosure investing business?
     What a sham...