On June 29 US Rep. Barney Frank, chairman of the House Committee on Financial Services, and Sen. Chris Dodd, chairman of the Senate Banking Committee, signed off on allowing three carrybacks per year under the SAFE Act without a license. This according to Sam Whitfield of the National Assn. of Realtors. See Seller Financing letter …
by Doug Foster Commissioner Texas Department of Savings and Mortgage Lending I am fully supportive of a return to Texas law prior to being preempted by the SAFE Act. The statute Texas FINANCE CODE CHAPTER 156. MORTGAGE BROKERS SUBCHAPTER A. GENERAL PROVISIONS § 156.202. EXEMPTION (3) and the rule TITLE 7 PART 4 Chapter 80 …
TX Mortgage Commissioner Sets The Record Straight On The SAFE Act Read More »
“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes… You will not see any of your taxes increase one single dime.” — …
Six Months to Go Until The Largest Tax Hikes in History Read More »
By Dr. F. N. Lee http://www.dr-fnlee.org/ In April 1994, I was invited to fly round the world and expound the Lord’s Prayer in the U. S. A. during September. Having acquired the plane ticket, as an only child I was much looking forward to visiting my parents in Barrydale (near Swellendam in South Africa) on …
The Sovereignty of God in the Salvation of My Father’s Slayer Read More »
From Franklin Sanders’ Daily Commentary Website: www.the-moneychanger.com Franklin@The-Moneychanger.com Over the years I have investigated a lot of alternative cancer therapies, largely because the mainstream or orthodox ones mostly don’t work. In the early 1990s I first interviewed Dr. Nicholas Gonzalez of New York who employs a therapy including pancreatic enzymes to break down the tumor, …
by Wayne Allen Root Barack Obama is no fool. He is not incompetent. To the contrary, he is brilliant. He knows exactly what he’s doing. He is purposely overwhelming the U.S. Economy to create systemic failure, economic crisis and social chaos — thereby destroying capitalism and our country from within. Barack Obama is my college …
A great deal of spam is circulating around the Web, sent by people promising that they can erase your bad credit, 100% guaranteed, or legally create a new credit identity. Some claim they can remove bankruptcies, judgments, liens, and bad loans from your credit file forever! Let’s start off by stating that there is one …
Doug Foster, the commissioner of the Texas Department of Savings and Mortgage Lending, has delayed the implementation of the SAFE Act requirement for licensure in seller carryback transactions in Texas until August 31. The law requiring a Texas seller to have a license to do more than five seller carrybacks in a consecutive 12-month period …
by W. J. Mencarow, editor of THE PAPER SOURCE JOURNAL “I saw your ad. What do you mean you buy cash flow notes (or mortgages, structured settlements, etc.)?” Your best strategy is to ignore the question and ask one of your own: “Are you receiving payments on a mortgage now?” (Or structured settlement or whatever …
How To Answer Cash Flow Note Holders’ Favorite Questions Read More »
This evening Alison and I attended a meeting with Doug Foster, the head of the agency that enforces the SAFE Act in Texas. Veteran real estate and note investor (and long-time PAPER SOURCE JOURNAL subscriber) Tom Henderson also spoke at the meeting, spiritedly representing sellers who carry back notes. Most of what Mr. Foster said …
SAFE Act: Meeting With A State Regulator Who Should Be Cloned Read More »
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