According to this new legislation, in many states of the country, owner finance is pretty much illegal now unless you are doing it with your homestead or unless you have a mortgage broker's license.My recommendation is to wholesale it and move on.

The REIA where I belong is one; in Phila there is also HAPCO; then there is also PROA.Some attorneys also will have updates to legislation, so if you have working relationships with such attorneys you would get a heads up whenever things are changing.Not sure if any PM could be relied upon for this; maybe if they had a good track record of doing so ...

whether or not you agree with the new AZ legislation, it's interesting how the violence from the left got downplayed significantly in most of the media, including FOX.

& legislation is aimed at Investors.

menu=234&id=922 13 weeks the The legislation signed by the President on November 21st,2008 and now Unemployment Insurance Extended Benefits: On April 24, 2009, legislation was enacted that will allow Arizona to pay up to 13 weeks of Extended Benefits (EB) to individuals who have exhausted their regular Unemployment Insurance (UI) and Emergency Unemployment Compensation (EUC) benefits.

There is legislation soon to be presented to the government "all-knowing" powers on the stupidity of these rulings.

But the heinous piece of the legislation is in section 101(3)(e), which defines the affected principals as:> '(E) does not include, with respect to a residential mortgage loan, a person, estate, or trust that provides mortgage financing for the sale of 1 property in any 36-month period, provided that such loan-> (i) is fully amortizing;> (ii) is with respect to a sale for which the seller determines in good faith and documents that the buyer has a reasonable ability to repay the loan;> (iii) has a fixed rate or an adjustable rate that is adjustable after 5 or more years, subject to reasonable annual and lifetime limitations on interest rate increases; and> (iv) meets any other criteria the Federal banking agencies may prescribe; and> > Yeah, I know, confusing.

That piece of legislation is just that a piece of legislation still to be debated and amended and possibly passed.Worrying over that legislation is pointless at this point.

It is the same with most all bills, it will have some unintended consequences, but will not stop those who do things correctly.There is one hope that I see that will deal a "death blow" to those who would legislate away our freedoms.

Laws are created by the legislative branch of the government.