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Is owner financing real estate legal?

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gbarnett Guest	Posted: Fri Oct 08, 2010 9:59 pm    Post subject: Like 0 Dislike 0 Thanks we have already got an attorney. Something isn't right somewhere. The bank probably shouldhave checked that the houses were under contracts before they used them as collateral. Ours is registered in the tax office where we have paid properety tax for 12 years and got homeowners exemption. He took our payments and saved his house from foreclosure by one day.
Guest	Posted: Thu Apr 07, 2011 12:38 pm    Post subject: owner financing Like 0 Dislike 0 Owner financing was pretty much made illegal with the passing on July 30. 2010 of the S.A.F.E. act. In order for an owner to be able to offer financing they have to be licensed, but requirements vary depending on the State and the legislation they passed in order to comply with the S.A.F.E. act. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jameshogg Joined: 20 Dec 2005 Posts: 10475 Location: Nevada 989.76 Dollars($)	Posted: Thu Apr 07, 2011 11:41 pm    Post subject: Like 0 Dislike 0 You should have a word with you attorney, gbarnett. The attorney will guide you what you should do in this matter.
jill b Guest	Posted: Wed Sep 07, 2011 6:01 am    Post subject: Propert taxes/homestead exemption Like 0 Dislike 0 The buyers went to the tax office to obtain homestead(in GA) They cannot obtain w/o warrenty deed.I have a downpayment,contract in place,and I own the home out-right/i.e. no bank involved.Reguardless,I keep the deed until last payment,right?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Sep 07, 2011 8:55 pm    Post subject: Like 0 Dislike 0 Welcome jill, As far as I know, unless the payments are made in full, you shouldn't give away your property deed. _________________ Procrastination is the enemy of your financial success
donna m Guest	Posted: Mon Apr 02, 2012 6:19 am    Post subject: to tom h Like 0 Dislike 0 gees whiz if you didn't pay him don't you think he may needed the money to make his payments. you think he made out of money
Marie Guest	Posted: Sun Apr 29, 2012 7:10 pm    Post subject: Like 0 Dislike 0 What if we were never given a contract to sign but were given monthly statements that show the monthly house payment subtracted from the previous total owed with the new current balance owed? I have been paying for some time now and only owe $1000 but now the sellers are getting really hard to deal with. One of them showed up at our door drunk making threats of making us move but my payments are always made before the date shown due on our statements. Can he really make us move now that we're almost done paying for the house?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Apr 29, 2012 11:57 pm    Post subject: Like 0 Dislike 0 Hi Marie, Your query has been replied to in the given page: http://www.mortgagefit.com/know-how/about54344.html Please take a look at it. I hope it will help you. _________________ Procrastination is the enemy of your financial success

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