Posted by Randy (SD) on November 30, 2004 at 16:04:25:
You must be a licensed Mortgage Lender (if you are approaching this a business, if your loaning your sister $20k ? no problem). Now you CAN buy a note without a license.
Creating loans - Posted by Rick
Posted by Rick on November 30, 2004 at 14:15:26:
In California, what are the rules to be aware of when offering defaulting parties a loan in the form of a trust deed? The loan would be done through escrow/title to either reinstate a defaulted loan or pay off a loan with bad terms/low LTV.
-Can I do it personally or through my corporation if neither has a mortgage/broker license?
-Must a 3 day right of recission still be offered?
-Interst/late fee guidelines?
-Any websites that deal with this sort of thing?
-What else???