seller financing: SAFE ACT - seller financing and contracts for deed
- 10/26/10 02:35 PM
The SAFE Act is affecting anyone in the real estate business. Anyone that knows more please submit comments. Here is something my attorney wrote to me: There is some confusing information out there about the SAFE Act as it pertains to purchases of real estate made with a self directed IRA. As you know, the Act places restrictions on lending. However, the Act defines a loan originator as an individual who (1) takes a residential mortgage application and (2) offers to negotiate terms of a residential mortgage loan for compensation or gain. There is always the possibility that an individual state … (0 comments)
seller financing: Land Contracts vs. Lease Options
- 10/21/10 04:56 PM
Many people ask me what is the difference between the two of these things. They are very different. A land contract is a way to finance or sell a home. It is seller financing and often called "contract for deed" or "land contract". A land trust is a way to title property, usually for asset protection. I just did a youtube quick video on this if you want to see a short definition. http://www.youtube.com/watch?v=5wt9cJdF4SE I use land contracts a lot to buy and sell. I rarely use land trusts for investing in real estate, because my state (MI) doesn't … (3 comments)
My blog is focused on creative seller financing and mostly Lease Options. I love so share creative ideas on how to put together deals in real estate when typical financing is not available.
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