25 April - Federal Legislation Update - Mike Cheatwood and Steve Gunther met with Congresswoman Thelma Drake in Washington DC on 02 April.  We now have a"meeting of the minds" and a sponsor for advocating positive investor legislation that also protects the public interests...  
***NOTE - EVERYTHING SHOULD BE "OK FOR NOW" IN THE FEDERAL ARENA ASSUMING NATIONAL REIA DOES NOT 'OPEN MOUTH & INSERT FOOT' WITH THEIR 'DAY ON THE HILL' PUBLICITY EFFORT ON TUESDAY, 29 APRIL...

***Teleconference Update - Lonnie Scruggs (author of "Deals on Wheels", Making Money with Mobile Homes" & "Taking the Mystery Out of Money") will be interviewed by Mike Cheatwood in the near future - Stay tuned for date/time to tune in and ask Lonnie your questions.... 
     
***Mike Cheatwood's SHORT SALES "How To" DVD-Video/Audio CD Course and 120+ page Book (with phone scripts, forms, contracts, etc...) is now completed and available for sale at FPCofAmerica.Com and at the next FPCOA meeting on 29 April as well as at the Seminar on Saturday, 17 May. 

23 April 2008 - At the Virginia Housing Commission meeting on 22 April, Mike Cheatwood met with the Virginia Department of the Banking Regulators (BFI).  The banking regulators are now writing the lending regulations based on passage of House Bill 1487.  These regulations have the potential to restrict 'short term financing' (otherwise known as Hard Money Loans).  At the request of the Commissioner of Banking and Financial Institutions, I have submitted a pro-investor argument that proposes not restricting these loans when they are structured as 'hard money business person to investor business person' loans.  Regardless of how the regulators 'interpet' HB 1487, there will still be a public comment period where we will get another shot at providing our input so any effect is minimal to investors/HML's.

HB 408 update - This bill has been approved and will become law on 01 July 2008....

SB 797 (i.e., 30-day foreclosure extension) passed the House of Delegates and is also expected to be signed into law by the Governor very soon....

FPCOA President Mike Cheatwood (appointed in 2007 by Governor Kaine to the Virginia Foreclosure Prevention Task Force) will also be attending the Governor of Virginia's on 06 May Foreclosure Prevention Task Force working group meeting in Richmond and will provide the membership with an update after the meeting...

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Message from the President 

NOTE - Our next Seminar on 17 May! - Location is the Crown Plaza Hotel in VA Beach (Lynnhaven Room) and the early bird registration cost is $59.95/person (late sign-ups and at the door attendance fees will be at $89.95/person) - A PIZZA LUNCH IS ALSO INCLUDED...  NOTE - We are donating 10% of Gross Sale Proceeds to the "Virginian's for Responsible Real Estate Investing Acts PAC".  The PayPal on-line feature is now operational for interested persons to sign up for SEMINAR's on line or purchase some of Mike's new educational training topics... 

Additionally, please check-out the VARREIA PAC "banner" at FPCofAmerica.Org for more information!  The cost of the development of this web page has not been billed to the PAC but has been donated by the Foreclosure Prevention Council of America.

You can reserve your "seminar" seat via phone or just pay at the door via credit card by phone or at the event/door.  Cash is also accepted but no big bills please!  Call (800) 269-9416 during normal business hours to make credit card payments by phone.  SEE YOU THERE...

Market update - The Foreclosure Prevention Council of America is striving to keep up with the changing credit and real estate markets and a summary of the market (including what investors can still do to succeed) and a multi-page page discussion of the market with several possible solutions is available in the "Ask Mike Cheatwood" Blog on the FPCofAmerica.Org web site (as well as other insights and commentary...).

It should also go without saying that questions are always welcome...

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Web site Update - Home page "video snips" of different video recorded training subjects (short sales, hard money loans, commerical real estate part 1 and part 2) are now available for visitors to check us out before joining.  NOTE - With-in the next 30-days we will also be offering our "VIRTUAL MEMBER" $19.95/mo program so that persons not co-located with a FPCOA training facility can still have access to the member's only training area where you can review the training videos as much as you like, participate in the on-line Q&A sessions with Mike Cheatwood, participate in our conference calls, and take the on-line tutorial course and then check out your knowledge level with the on-line subject matter practice tests...

     The new web site now has all the current training videos in the members only area.  Future training videos will be on "Options-Lease-options", "Self directed IRA investing", "Wholesaling" and "Master Leasing for positive cash flow".  Members are asked to review these videos and  recorded training sessions and provide feedback on what else you would like to see.  The "Ask Mike Cheatwood Blog" is also now operational.  Please also give us your feedback on what other items you would like to see in the members only area...   IF there are any issues with logging into the web site or with your password information, please call us at (800) 269-9416 X 2...

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