Rippy stands up on behalf of dream of home ownership | PostIndependent.com
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Rippy stands up on behalf of dream of home ownership

Dear Editor,

I want to applaud Rep. Greg Rippy for his recent support of HB 1259, the Colorado Protection of Consumers’ Homeownership Equity Act.

In casting his vote for this bill, Greg made it clear he wants to eliminate unethical and misleading predatory lending practices. Once the governor signs this bill, the message to lenders engaged in predatory lending will be clear – their time of trampling the American dream of home ownership in Colorado is over.



For the elderly and those in the lower income brackets, this is especially important. Today predatory lenders prey on these individuals and families.

The vote by Rep. Rippy was a vote to prohibit loan flipping, negative amortization, increased interest rates on default, a lender charging a fee for a payoff quote, and other deceptive practices. Supporting HB 1259 was a good move for our community.



Although others have advocated an alternative bill, SB 73, that choice would have meant creating two classes of borrowers -those who have choices in the legitimate lending products that may be offered and those who would be limited in their lending choices. Discrimination in any form is not what our country or our community is about. Voting for HB 1259 was the right choice.

Sincerely,

David Harris

Glenwood Springs


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