'SAFE Act' Compliance Secrets Revealed
Secrets Revealed:
- Do you need a license?
- How does the SAFE Act affect you if you want to buy, create or broker seller carryback notes?
- How many seller finance deals can you do?
- Can you legally get around the SAFE Act?
- Plus solutions to many of the questions we have all been asking ourselves!
- And many more ideas you may not have thought about ..
7 Bonus Documents Included
- How The SAFE Act Affects Seller Carryback Notes: Strategies For Note and Real Estate Brokers & Investors by W. J. Mencarow
- SAFE Act FAQs
- Text of the Federal SAFE Act (PL 110-289)
- HUD Model SAFE Act for States
- HUD Commentary on Model SAFE Act
- HUD Report to Congress On SAFE Act
- Proposed SAFE Act Rule
- Congressional Letter To Conferees
You can steal this report for Only $9.95.
How The SAFE Act Affects Seller Carryback Notes
The SAFE Act (“The Secure and Fair Enforcement for Mortgage Licensing Act”) is Title V of the 700-page “Housing and Economic Recovery Act.”
- It prohibits anyone except a person selling their primary residence from taking back a mortgage on a residential dwelling (SFR up to four units) without a mortgage originator’s license unless they sell to a direct family relative. That means real estate investors, vacation home owners, people who own a vacant residential lot and even heirs will have to be licensed to take back a note in almost all cases.
- What’s more, you have to be licensed if you DISCUSS ANYTHING with the note payor about money or terms if the note is to be modified or yet to be created..
- In this Special Report PAPER SOURCE JOURNAL editor W. J. Mencarow takes the SAFE Act apart, tells you who needs a license and when, why you probably don’t want to get a license, why “seller financing” is not lending, what NEVER to do in a note transaction, points out the major flaws in the SAFE Act, tells you how many seller carrybacks you can do without a license and why, and suggests innovative ways to comply with the SAFE Act without being licensed.
Testimonials
I have a been a Papersource Subscriber for several years. I have the highest regard for everything Bill puts on paper. This SAFE Act report is full of some great information.
- Simon White, San Diego
You can steal this report for Only $9.95.