All Forum Posts by: Account Closed

Hello,

Is there a definitive way to determine a states licensing requirements on hard money lending? 

Specifically, if I want to lend private funds on non-owner occupied residential properties, how do I determine if a license is necessary? The reason I ask is because I have received contradicting stances. On one hand I have called and and inquired directly with the particular states governing body and been told that no license is required for these type of loans. On the other hand I have consulted a lawyer in the particular state who says these type of loans are subject to the SAFE act and thus require specific licensing. 

Is this issue subjective or is there a clear cut answer? 

Thanks!

Hello,

If I am a lender and I foreclose on a property, the property will go into trustee sale. However, I am having trouble finding information on how to assess the true costs of going through the trustee sale. As the beneficiary, what costs, if any are there to go through this process? I am sure it varies state by state but what are the typical costs here if someone else buys the property or if no one outbids the minimum and I re-possess myself?

Any help would be appreciated! Thanks.

Hello,

Quick question regarding lending laws in Tennessee, which I am having trouble finding a definitive answer on.

If I have acquired private funds and I want to lend them out solely for rehab/flip projects in Tennessee, am I required to be licensed?

Thanks.