Seller Financing is About to Get Ugly on January 10

Clint Coons, Esq

In 3 months private seller financing will come under the control of the Empire, err… actually the Consumer Financial Protection Bureau (CFPB).   Congressmen Dodd and Frank in their zeal to protect the public from unscrupulous lenders have burdened every real estate investor who engages in seller financing with new regulations that will ultimately feel like 10 additional gravities weighing upon their investing.  If you are not aware of this legislation, it essentially removes the real estate investors’ ability to self-finance the sale of real estate without becoming a licensed mortgage loan originator.  Here is how it works.

  • John recently purchased a mobile home park that included 10 vacant mobile homes in the purchase.  Desirous to monetize his investment, John advertises the mobile homes for sale and begins filling them quickly with his attractive financing.  John offers each purchaser a mobile home for $500 down and the remainder amortized over 20…

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About Steve Masterson

Court-appointed Trustee and Personal Representative, providing neutral, third-party, administration of Trusts and Estates; estate planning consultant to families, attorneys, and fiduciaries; and expert witness for trust and estate litigation matters. See my website at www.idahotrustee.com
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