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Updated almost 5 years ago,

Mike Mefferd's profile image
Mike Mefferd's profile image
Mike Mefferd
  • Property Manager
  • from Dayton, OH
  • Member since Aug 20, 2014
  • Posts 38
  • Votes 11
  • Experience 5 Yrs
  • Investments 1
Connect

User Stats

38
Posts
11
Votes
Mike Mefferd's profile image
Mike Mefferd's profile image
Mike Mefferd
  • Property Manager
  • from Dayton, OH
  • Member since Aug 20, 2014
  • Posts 38
  • Votes 11
  • Experience 5 Yrs
  • Investments 1
Connect
Mike Mefferd
  • Property Manager
  • Dayton, OH
11
Votes |
38
Posts
Starting Out

Seller Financing Question

Mike Mefferd
  • Property Manager
  • Dayton, OH
Posted

I am looking at putting in an offer on a 4 plex where the seller would carry back a loan, amortized over 30 years, and a balloon payment after 5 years. In this scenario, since a 4plex qualifies a residential unit, do Dodd Frank laws apply to the seller holding the mortgage for me? I just want to make sure they wouldn't be in trouble with any of the lending laws out there.

Thanks,

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