BiggerPockets

HUD Wants to End Seller Financing

Wednesday, February 17

Episode 8 - HUD Wants to End Seller Financing

If you haven't heard HUD has a proposed ruling where they would like to eliminate seller financing except for those that live in the home being financed or those with a mortgage originators license.  This would hurt real estate investors and home buyer's alike.  Let HUD know that you think this is a bad idea.  They are taking comments on the ruling.

Visit http://regulations.gov and search on HUD and SAFE. Got to ruling FR-5271-P-01 and leave your comments so your voice can be heard.

Comments

1. 

   Bryan Hancock Reply
   almost 2 years ago

   The SAFE Act doesn't ban seller financing from what I understand. It forces people to give TIL and a variety of other disclosures. I actually like the new law the more I understand it. It allows me to tell tenant/buyers to talk to the mortgage guy if they don't like some terms post sale. It also makes sure you have the paperwork done according to Hoyle.

   $500 for a flat fee servicing is well worth it to get things done right. The only thing I don't like is not being able to negotiate the exact terms with the buyer, but there are ways to deal with that.

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