Subject: File No. DF - Other Initiatives
From: Sally Decelis
Affiliation: Williamson County Board of REALTORS

June 20, 2011

To Whom it May Concern,

I am a REALTOR in the state of Texas. I firmly believe that increasing the amount needed for down-payment for qualifying buyers is a hindrance to the economic status of our country. The American Dream is out of reach for many as jobs have been taken away by the outflux of products and services being outsourced. Now the dream of owning a home instead of renting is being taken away as well.

It is time that the government get on board with what the American people want and that is owning a home, getting and keeping a job, and having an education that is worth more than the paper it was written on.

It is time for Americans to take back what is theirs and that is the land in which our forefathers fought for. Increasing downpayments do not decrease foreclosure rates, do not decrease short sales, and do not decrease people "having teeth in the game". It does increase pride, jobs, and economy both State, Local, and Country wide.

The creation of higher credit limits 640 and above, with the increase of credit worthiness will keep us on track. With an increase in downpayment also brings increase of closing costs and that is way to costly for Americans to afford. However, you are making it easier on investors and investment banks to buy up properties and charge high rental rates for homes that normally would have been bought by Americans.

Increasing rental rates keeps Americans down and keeps them subservient to the rules of the investors which may be non-US Investors. I am not sure how this increases American lives or the American dream but it is in no way in keeping with what tax payers hired you to do.

Step back and look around at your American Consituents and ask if it is fair to promote rental/investment activity or to promote Americans owning a piece of the pie.