Comments on: Stop HR 4173 From Regulating Seller Financing! http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/ Everything you need to know to Buy, Sell, or Create a Note! Mon, 06 Feb 2012 21:21:43 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Mike http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-11572 Mike Fri, 25 Mar 2011 05:25:39 +0000 http://noteinvestor.com/?p=1231#comment-11572 Correct me if I am wrong but this applies to a "mortgage loan" under HOEPA. An open-end line of credit is exempt under this law. So, in essence a seller could carry back financing using an open end line of credit for the amount borrowed (max out the draw amount) and the rest of the law (HR 1728) does not apply. No reasonabilty test, balloon payments/call provisions are ok under heloc's. Correct? There will always be loopholes that people will take advantage of. Correct me if I am wrong but this applies to a “mortgage loan” under HOEPA. An open-end line of credit is exempt under this law. So, in essence a seller could carry back financing using an open end line of credit for the amount borrowed (max out the draw amount) and the rest of the law (HR 1728) does not apply. No reasonabilty test, balloon payments/call provisions are ok under heloc’s. Correct?

There will always be loopholes that people will take advantage of.

]]> By: Is Seller Financing A Crime Now? :AskMikeButler.com http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-3595 Is Seller Financing A Crime Now? :AskMikeButler.com Thu, 13 May 2010 16:55:49 +0000 http://noteinvestor.com/?p=1231#comment-3595 [...] HR 1728 and HR 4173. [...] [...] HR 1728 and HR 4173. [...]

]]> By: Donna http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-2882 Donna Wed, 24 Feb 2010 15:16:03 +0000 http://noteinvestor.com/?p=1231#comment-2882 I believe this is another way to get more money out of the people's hands I believe this is another way to get more money out of the people’s hands

]]> By: How HUD Safe Act Will Hurt Seller Financing : Note Investor http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-2784 How HUD Safe Act Will Hurt Seller Financing : Note Investor Fri, 12 Feb 2010 23:10:05 +0000 http://noteinvestor.com/?p=1231#comment-2784 [...] The HUD proposals under the Safe Act are all part of the fall out from the failed lending institutions and related to HR 1728 and HR 4173. [...] [...] The HUD proposals under the Safe Act are all part of the fall out from the failed lending institutions and related to HR 1728 and HR 4173. [...]

]]> By: HR 4173 Safe Mortgage Licensing Threatening to Kill Owner Financing http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-2783 HR 4173 Safe Mortgage Licensing Threatening to Kill Owner Financing Fri, 12 Feb 2010 19:21:34 +0000 http://noteinvestor.com/?p=1231#comment-2783 [...] Read more about HR 4173 [...] [...] Read more about HR 4173 [...]

]]> By: Dawn Rickabaugh http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-2774 Dawn Rickabaugh Thu, 11 Feb 2010 23:04:22 +0000 http://noteinvestor.com/?p=1231#comment-2774 Thanks for assembling the thoughts and resources that are so relevant on this subject. I've referenced your posts and links, and will stay tuned to keep abreast of the story. That this provision would pass is unthinkable. Dawn Thanks for assembling the thoughts and resources that are so relevant on this subject. I’ve referenced your posts and links, and will stay tuned to keep abreast of the story. That this provision would pass is unthinkable.

Dawn

]]> By: Top 5 Articles on Seller Financing : Note Investor http://noteinvestor.com/note-brokers/stop-hr-4173-regulating-seller-financing/comment-page-1/#comment-2752 Top 5 Articles on Seller Financing : Note Investor Thu, 04 Feb 2010 21:32:56 +0000 http://noteinvestor.com/?p=1231#comment-2752 [...] After passing the House on May 7, 2009, this bill has been stalled in the Senate. Now Note Investor has discovered that most of the provisions and restrictions of HR 1728, including the limitations on seller financing, have been included as part of HR 4173. Also known as The Wall Street Reform and Consumer Protection Act, this bill passed the House on December 11, 2009 and now goes before the Senate. Read More… [...] [...] After passing the House on May 7, 2009, this bill has been stalled in the Senate. Now Note Investor has discovered that most of the provisions and restrictions of HR 1728, including the limitations on seller financing, have been included as part of HR 4173. Also known as The Wall Street Reform and Consumer Protection Act, this bill passed the House on December 11, 2009 and now goes before the Senate. Read More… [...]

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