Posted by chet on January 12, 2005 at 24:13:27:
lending per se doesn’t need a lincense (is CA). I can do seller carryback all day loan.
To originate an loan that has a rate greater thnat what would otherwise be legal, requires a license.
as for a UCC filing to perfect your collteral, see an atty. AA whole different legal rhelm that trust deeds.
LENDING LAWS AND LAND TRUST - Posted by Kevin
Posted by Kevin on January 11, 2005 at 19:38:11:
Hello, I have a question about lending while property is in a Land Trust. Are the Lending Laws the Same when lending to the Beneficiaries in a Land Trust and do a UCC filing with their interest as collateral since the interest is considered personal property. Would one also need to have a lenders license. This would be opposed to Lending to individuals without a Land Trust and hold a Second Mortgage which I know is regulated and would need a license to do. I’ve searched the Archives but could not come up with an answer