For purposes of this Act, the following definitions shall apply:(1) FINANCIAL INSTITUTION.—The term ‘‘financial institutions’’ means any institution including, but not limited to, banks, savings associations, credit unions, broker-dealers, and insurance companies organized and regulated under the laws of the United States or any State, territory, or possessionof the United States, the District of Columbia, Commonwealth of Puerto Rico, Commonwealth of Northern Marianas Islands, Guam, American Samoa, or the United States Virgin Islands, and having significant operations in the United States, but excluding any central bank of, or institution owned by, a foreign government.(2) SECRETARY.The term ‘‘Secretary’’ means the Secretary of the Treasury.(3) TROUBLED ASSETS.The term ‘‘troubled assets’’ means residential or commercial mortgagesand any securities, obligations, or other instruments that are based on or related to such mortgages, thatin each case was originated or issued on or before September 17, 2008, the purchase of which the Secretary determines promotes financial market stability; and, upon the determination of the Secretary in consultation with the Chairman of the Board of Governors of the Federal Reserve, any other financial instrument, the purchase of which the Secretary determines necessary to promote financial marketstability.

Joel, if this is truly the case then the FHA regulations will have to be changed as this can not be the case ANY time.Also, FHA regs state the property cannot be sold until the 91st day after current ownership.

I guess the other factor you have to consider is, what are the city regulations on the business having a license to operate.

Nothing like enabling your "my dad does not get it" genes.

He is the one that de-regulated the financial institutions and made it possible for people that couldn't afford houses to buy them.

http://finance.yahoo.com/news/Regulators-seize-Floridas-apf-15323245.html?

I usually don't like using the guru contracts that investors sell in their courses I rather use state regulated contracts just to be on the side of legality.I might add a few clauses here and there to protect myself and have an attorney go over it just to make sure it's compliant with real estate laws.

i'm planning for investing in canada and usa. in mean while i want some clarifications on all rules and regulations prevalent in these two countries. if you have some contacts of a realestate consultant with a wide field of knowledge and would be a transparent person . please kindly put up his contacts and it would be of a greater help if u pm me those contacts

There are other agencies that deal with loans and regulations about loans, but as a non-US citizen, your lending situation will be much more complex than for a US citizen.

And also gives the actual regulation numbers of the proposed legislation to correct these lien positioning problems.I have looked over this site for any copywright information about this article and could not see it, should that be an issue for anyone, but still wish to make sure that Mr.