How HUD Safe Act Will Hurt Seller Financing

Be afraid! HUD is poised to take away our rights to offer owner or seller financing on property we own. Under the Safe Mortgage Act proposal, you can only offer owner financing on the home you live in or you must become a licensed mortgage originator. Here’s how I see it. If we own a property, ANY property (whether it is our residence or not), we should be able to sell to a buyer with owner financing. HUD’s proposal is to provide an exemption to “where an individual seller provides … [Read more...]