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7 March 2011 | 18 replies
Employees of a property owner are exempt from license requirements in most states, check on the state stautes regarding leasing agents.I just made a comment to your (OP) question concerning commercial, I suggest you stick with residential first.
14 June 2012 | 9 replies
Loans from family are exempt from the SAFE Act and other lending laws.
30 December 2014 | 15 replies
As for these showing up on a title search.....if it's not recorded, it won't show up on the public records search, which is all most title co.s do that represent REO's, and you will see exclusions for those in your title policy, exemptions section B.
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8 March 2015 | 3 replies
Am I exempt because my company will not be earning income in Nevada?
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1 July 2013 | 16 replies
Property taxes at my rental are much lower than at the rehab property so I will save $$$ on taxes getting a homestead exemption and living in it.D.)
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6 September 2015 | 18 replies
The due on sale clause simply gives the lender the RIGHT to call the loan due upon transfer of title.The exceptions to calling the loan due in the Garn St Germain Act are below....See http://www.law.cornell.edu/uscode/text/12/1701j-3(d)Exemption of specified transfers or dispositions With respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender may not exercise its option pursuant to a due-on-sale clause upon—(1) the creation of a lien or other encumbrance subordinate to the lender’s security instrument which does not relate to a transfer of rights of occupancy in the property;(2) the creation of a purchase money security interest for household appliances;(3) a transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) the granting of a leasehold interest of three years or less not containing an option to purchase;(5) a transfer to a relative resulting from the death of a borrower;(6) a transfer where the spouse or children of the borrower become an owner of the property;(7) a transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;(8) a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property; or(9) any other transfer or disposition described in regulations prescribed by the FederalHome Loan Bank Board.
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14 October 2018 | 15 replies
The goal is to eliminate or drastically reduce any claims of a borrower of any homestead exemption rights, lost equities and violations in collections or foreclosure requirements.
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8 October 2014 | 6 replies
It also typically allows you to close significantly faster - sellers tend to like that.I use my HELOC often for this purpose Edit: you can get around seasoning requirements by using delayed financing exemption
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17 December 2017 | 19 replies
I will pay cash using my HELOC and use the delayed financing exemption to get my cash back and use it for the next purchase.
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21 March 2016 | 14 replies
Regarding the use of self-directed accounts as mentioned in Brians "Exception" paragraph, I will add that the Solo 401k is exempt from most instances of UDFI when leveraging properties.