I did take a business law class;-)

Not for the rookie.There are "rights of redemption" and "foreclosure rescue" laws from the Attorney General's Office.I just googled and found this, no idea how current and how accurate.http://homepreservationnetwork.com/foreclosure-laws-by-state/item/south-carolina-foreclosure-lawsSee a foreclosure lawyer that knows JUDGES's reactions to so called RE Investors attempts to cure notes and buy property from distressed homeowners.

Check the licensing laws to see where you would stand.

What's the intent of the law?

They are concerned about being taxed on the difference under the new banking and mortgage laws.

Trey your on the right track but you should be able to reap the benefits and limit your liability as well.In CA, we have this form below that basically tells a seller that you are not representing them and they should seek legal,tax,etc. counsel if they need it.http://www.wrightrealtors.com/pdf/non_agency.pdfThe good thing about TX, is that the laws are much different and the disclosure requirements are much less.

For doing commercial/ business purpose loans (secured by real estate ) is there any guide available on Dept of Business Oversight or any other place to conform to The CFLL - California Finance Lenders Law?

page=1#axzz2rQTi3H9wI've followed other cases, too, and most all seem to be related to blatant, over-aggressive and wholesale application of this law.For the living, this is a painful situation to be caught up in.The major takeaway is that A.P. is a tool of last resort, not an objective to search for scenarios to apply this law (which is available in all 50 states).

Here's the situation:My sister-in-law is in serious debt and can no longer afford the payments on her house.

It was a VA repo and next door to my in laws, so I kind of knew the history.