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HUD considering regulating Seller financing

By Glenn Gaspar

Real Estate Agent with eXp Realty DRE# 01048604

February 20, 2010 06:41 AM

In an article titled "Investor Report: HUD Regulations" written by Kenneth Harney with RealtyTimes. He shares with us what HUD is considering at this moment, and that is: HUD is proposing to regulate Seller financing in the same way they, HUD, regulates the mortgage broker.

Granted HUD has yet to make a decision on this, but we as a community of real estate professionals have to express our concern over the direction they are taking on this matter. So I ask all of you to read Kenneth's article and to voice your opinion to HUD today!!!

Here is the ling to the article by Kenneth Harney:

http://realtytimes.com/newsfiles/realtimes2.nsf/rtpagesv5/20100219_investorreport.htm

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Dale Terry

Yadkinville, NC

I would be against all HUD regulations that target one group without all being under the same rules. Banks should be under the same as mortgage brokers as to YSP. With that said, HUD should have no control over private financing.

Feb 20, 2010 09:10 AM

Brian Anderson

Peachtree SEO - Peachtree City, GA

SEO and Social Media Marketin

Agree - banks need to play by the exact same rules. And..in my opinion, HUD has no right to be involved in private seller transactions. Welcome to socialism....

Feb 20, 2010 03:05 PM

Thomas McCombs

Century 21 HomeStar - Akron, OH

HUD is still accepting comments on this by us, the members of the public. We all need to let HUD know that this is not an appropriate area for HUD rules.

If I as a seller want to hold a mortgage on a property I am selling, why is it any of HUD's business how I do it?

Akron, Ohio

Feb 21, 2010 10:45 AM

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Glenn Gaspar

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