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Updated about 15 years ago on . Most recent reply

Jorge Garcia's profile image
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Jorge Garcia
  • Real Estate Investor
  • from La Mirada, California
  • Member since Nov 2, 2009
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Jorge Garcia's profile image
Jorge Garcia's profile image
Jorge Garcia
  • Real Estate Investor
  • from La Mirada, California
  • Member since Nov 2, 2009
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Jorge Garcia
  • Real Estate Investor
  • La Mirada, CA
6
Votes |
18
Posts
Tax Liens & Mortgage Notes

HUD Trying to Eliminate Seller Financiang

Jorge Garcia
  • Real Estate Investor
  • La Mirada, CA
Posted

Has anyone heard about HUD trying to eliminate seller financing on non-owner occupied homes?

It has something to do with their interpretation of the SAFE Mortgage Licensing Act.

They apparently want to eliminate ALL seller financing unless the seller lives in the home or becomes a licensed mortgage originator.

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Peter Giardini's profile image
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Peter Giardini
  • Rental Property Investor
  • from Baltimore, MD
  • Member since Aug 5, 2009
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Peter Giardini's profile image
Peter Giardini's profile image
Peter Giardini
  • Rental Property Investor
  • from Baltimore, MD
  • Member since Aug 5, 2009
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Peter Giardini
  • Rental Property Investor
  • Baltimore, MD
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Peter Giardini
  • Rental Property Investor
  • Baltimore, MD
Replied

I have read through the entire thing... painful experience... there are just a couple exemptions... and being a real estate investor is not one of them.

If there is not an explicit exclusion I believe we will be limited regarding our property rights.

There are over 45K members on this site... lets get on the HUD site, read the rule and make comment and effect the outcome we want.

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