Call to Action until March 5th
The way it’s worded, new rules proposed by HUD would require you to become a licensed mortgage broker to sell your investment properties with owner financing. Let HUD know how that would prevent you from helping buyers, sellers, etc. Share your views and comments by March 5th…
The following is extremely important! HUD has proposed to eliminate seller financing unless the seller lives in the home or becomes a licensed mortgage originator.
How YOU can help:
We real estate investors across the country to go on record with HUD on this issue. Please review the proposed law and submit your comments to HUD. We have until March 5th (extended due to public response) to flood this system with comments.
Follow these simple steps:
- Visit www.regulations.gov. Select document type “Proposed Rules” then as keyword enter “FR–5271–P–01″ or “safe mortgage” and search (or use direct links below)
- Review document as you need
- On the right of the next screen, click on “submit comment”
- Complete the form providing required info, your comments and submit
Or use these direct links:
FR–5271–P–01
SAFE Mortgage Licensing Act:
HUD Responsibilities Under the SAFE Act
(Document ID HUD-2009-0155-0001)
What do you say?
Say what you feel, but say it politely! The message should include that you would like the definitions in the proposed rules to be changed so that private individuals can originate and service loans on properties they personally own.
Make your voice heard!
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