Pay attention to (21) (b) and (d) i & ii.(21) (a) engaging in an act of loan modification assistance that requires licensure as a mortgage officer under Chapter 2c, Utah Residential Mortgage Practices and Licensing Act, without being licensed under that chapter;(b) engaging in an act of foreclosure rescue without entering into a written agreement specifying what one or more acts of foreclosure rescue will be completed;(c) inducing a person who is at risk of foreclosure to hire the licensee to engage in an act of foreclosure rescue by:(i) suggesting to the person that the licensee has a special relationship with the person's lender or loan servicer; or(ii) falsely representing or advertising that the licensee is acting on behalf of:(A) a government agency;(B) the person's lender or loan servicer; or(C) a nonprofit or charitable institution; or(d) recommending or participating in a foreclosure rescue that requires a person to:(i) transfer title to real estate to the licensee or to a third-party with whom the licensee has a business relationship or financial interest;(ii) make a mortgage payment to a person other than the person's loan servicer; or(iii) refrain from contacting the person's:(A) lender;(B) loan servicer;(C) attorney;(D) credit counselor; or(E) housing counselor.

I was thinking lately about taking out a loan or two for rental properties, but I have some concerns about the federal government/politicians/partisanship, a tech bubble in the stock market, shadow inventory held by the banks, economic problems on the part of the country that could affect the housing market, the drastic increase planed for the flood insurance industry (and I'm coastal) and the fact that the banks haven't really been brought to heel since 2008.

my suggestion is to stay local and only acquire notes on collateral that you are willing to own if the note goes bad.Study the laws and regulations that govern lending practices and enforcement of collecting on your secured liens.

Another important caveat which I think will spurr growth, development and employment is that all buyers have to show proof of plans to rehab within 30 days of closing and then proof of occupancy within 6 months or else the government reclaims the property.

A government program put $10k into it.

However, there are no governing agencies determining what a hard money lender can and cannot do.

I have recently heard that I can't simply assign or double close a deal with a borrower getting a government insured loan because I'd have to own the house at the time the contract is written, before the buyer makes application for the FHA loan... please help me out if you know.Thanks,Paul

In the long run the biggest hit on your returns will be taxes so you should shelter as much as you can as early as you can from the government to avoid that drag.

My CPA really encouraged me to get involved in rental properties to cut down on some of the money the government is taking from me.

By close to Downtown (Southtown, Tobin Hill, Beacon Hill, Government Hill, Laurel Heights, Monte Vista, Mahncke Park, etc.) and you have high demand, qualified renters, and a property that will continue to appreciate.