Hard Money Legal Issues

[Cliff Pelfrey]

Does A private individual doing private mortgages for profit on OO primary residents at 16 percent interest throughout the United States need to be licensed? As a private Lender do you have to provide a GFE, Truth in lending and other discourse? Is there a limit how much you can charge in points or total closing cost? Is it legal to require the borrower to sign a deed in lieu of foreclosure at the closing so if there is a default does not have to go through foreclosure just file the deed? Thanks for the input.