Comments on: “ARE LAND CONTRACTS NOW SAFE UNDER THE SAFE ACT?” http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/ Empowering Business Owners & Real Estate Investors With Knowledge Wed, 25 Jan 2012 16:08:13 +0000 hourly 1 http://wordpress.org/?v=3.1.4 By: Matt http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1776 Matt Fri, 18 Mar 2011 17:56:03 +0000 http://www.askmattonline.com/?p=1112#comment-1776 No, this means Indiana regulators prefer that you use a land contract. I remain unconvinced that Congress did not intend to treat land contracts and mortgages alike under this new law. Old contracts are not subject to this law. No, this means Indiana regulators prefer that you use a land contract. I remain unconvinced that Congress did not intend to treat land contracts and mortgages alike under this new law.

Old contracts are not subject to this law.

]]> By: Lori Mei http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1768 Lori Mei Wed, 23 Feb 2011 01:28:37 +0000 http://www.askmattonline.com/?p=1112#comment-1768 Does that mean I can no longer sell real estates to tenants on a land contract anymore? What happened to existing land contracts that were signed several years ago? are those contracts still binding? or do they have to be dissolved somehow? Does that mean I can no longer sell real estates to tenants on a land contract anymore?

What happened to existing land contracts that were signed several years ago? are those contracts still binding? or do they have to be dissolved somehow?

]]> By: Donald http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1758 Donald Sun, 09 Jan 2011 04:35:42 +0000 http://www.askmattonline.com/?p=1112#comment-1758 Instead of investors wringing their hands about not being able to sell on land contract, why not hire some starving individual who happens to have a loan originator license to "rubber stamp" the LC applications for a token fee of $100 or less? Or better yet, why wouldn't this be a golden opportunity for some entrepreneur to put together a company that acts as a clearing house for land contracts all over the country and advertises their product to be Safe Act Compliant and get incredibly rich in the process? Instead of investors wringing their hands about not being able to sell on land contract, why not hire some starving individual who happens to have a loan originator license to “rubber stamp” the LC applications for a token fee of $100 or less? Or better yet, why wouldn’t this be a golden opportunity for some entrepreneur to put together a company that acts as a clearing house for land contracts all over the country and advertises their product to be Safe Act Compliant and get incredibly rich in the process?

]]> By: Jim Murphy http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1746 Jim Murphy Tue, 21 Dec 2010 03:59:53 +0000 http://www.askmattonline.com/?p=1112#comment-1746 Matt, Since the regulation gives the definition of Mortgage transaction as being 'a loan or consumer credit sale that is or will be used by the debtor primarily for personal family or household purposes...", would the sale of residential property for the use of rental investment be exempt? Matt,
Since the regulation gives the definition of Mortgage transaction as being ‘a loan or consumer credit sale that is or will be used by the debtor primarily for personal family or household purposes…”, would the sale of residential property for the use of rental investment be exempt?

]]> By: Matt http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1736 Matt Wed, 01 Dec 2010 18:01:00 +0000 http://www.askmattonline.com/?p=1112#comment-1736 The Dodd-Frank Act is very, very long and still being interpreted. Frankly, I've not reached conclusions about the Act. I'm still trying to understand it. There is much confusion among lawyers as to how this impacts smaller investors. -Matt The Dodd-Frank Act is very, very long and still being interpreted. Frankly, I’ve not reached conclusions about the Act. I’m still trying to understand it. There is much confusion among lawyers as to how this impacts smaller investors.

-Matt

]]> By: William Bronchick http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1734 William Bronchick Thu, 18 Nov 2010 16:19:52 +0000 http://www.askmattonline.com/?p=1112#comment-1734 Good insight, Matt. What's your thoughts on the new Dodd-Frank Act which basically makes you qualify ALL buyers, even owner financed buyers? They use the same language, "Residential Mortgage Loan" and speak of a "Mortgage, Deed of Trust or other Security Interest". Does a land contract even apply here? Good insight, Matt.

What’s your thoughts on the new Dodd-Frank Act which basically makes you qualify ALL buyers, even owner financed buyers?

They use the same language, “Residential Mortgage Loan” and speak of a “Mortgage, Deed of Trust or other Security Interest”.

Does a land contract even apply here?

]]> By: Matt http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1711 Matt Tue, 05 Oct 2010 21:31:19 +0000 http://www.askmattonline.com/?p=1112#comment-1711 If the seller lived in the home, yes, you would be correct. Not all residential properties sold by the owner are exempt. If the seller lived in the home, yes, you would be correct. Not all residential properties sold by the owner are exempt.

]]> By: Lee Mrazek http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1698 Lee Mrazek Sun, 26 Sep 2010 02:28:38 +0000 http://www.askmattonline.com/?p=1112#comment-1698 If I am following this correctly, an individual providing financing on a personal dwelling he wishes to sell would be exempt? If I am following this correctly, an individual providing financing on a personal dwelling he wishes to sell would be exempt?

]]> By: Joe Burnworth http://www.askmattonline.com/uncategorized/%e2%80%9care-land-contracts-now-safe-under-the-safe-act%e2%80%9d/comment-page-1/#comment-1688 Joe Burnworth Mon, 16 Aug 2010 18:15:49 +0000 http://www.askmattonline.com/?p=1112#comment-1688 Thank you for your effort and interpretation!! Thank you for your effort and interpretation!!

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