Currently there is a proposal before regulators to require a minimum of 20 percent down on all residential mortgage transactions.  Many buyers would no longer have the ability to buy a home, or if they choose to buy with less than 20 percent down they will be looking at higher fees and up to 3 percent higher interest rates.  This would not only have a huge negative impact on potential buyers, but sellers as well since there would be so few buyers for their homes.  

I urge everyone to contact their representatives and tell them that this type of regulation will hurt not only our industry but the country as well. 

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