It should be done in front of a third party or notary.Now this may not be a requirement, but in doing loans on the secondary market, the mortgage bankers want to see it documented that the borrower understood the transaction and that it was explained to them in their language.Seien Sie vorsichtig, Bill

We had this same discussion also when we first got in contact, but you understood and bring me good deals now, but some wholesalers don't get it.Look forward to doing more business with you.

Although I have always been interested in learning more about it, I had never really understood it until I found this site.

You may somebody that needs a cease and dismiss order from the DBPR.Eugene HoffmanEugene HoffmanSpeeding is not a good analogy because traffic laws are generally clearly written, understood and supported by AMPLE case law.  

One difference is simply that the risk of the retail buyer not getting a mortgage is known, well understood, and able to be managed by the seller (as with POF).  

(Honestly I don't know how they look in the mirror)  But when Dodd-Frank became law, I seriously stopped doing any lease purchase deals, until I fully understood the law, and opted to sell places cash or conventional financing only during the period of discovery.  

@Steve Babiak I never understood why you faced away from the camera on your profile pic.... duh....

Lorelei Hilz I understood the situation form the beginning.

He replied to her in writing that yes, he understood that, and yes, we wanted to close, we were just waiting for her to produce to us the actual contents of the note so that we would know for sure what exactly it was we were buying. 

Personally I never understood it and think it's outright immoral.