
In case you haven’t heard, there’s a new bill out there called the HUD SAFE Mortgage Act. From what I understand, it passed and became law in the summer of 2009, but states were given up to two years to implement the bill. This legislation makes Owner Financing illegal. If you are not a licensed broker, you will not be able to do owner financing.
This bill is huge. They are considering Lease to Own as a possible owner finance and, if determined to be so, this bill could immediately outlaw lease to own. So many buyers are not able to buy a home with traditional financing and this could eliminate options to those wanna be homeowners.
If you have ever purchased or sold a property using seller financing, you need to take a few moments to read the following message. After you have reviewed the information, send your comments to HUD per the instructions to help stop this devastating proposal. Please, get involved and make your voice heard. Please, help us Make a Difference.



