[quote=SK in CV]Your explanation of the bill is misleading.
You will NOT be able to sell more than 1 property with owner financing every 3 years!
Uh…yes, you will. But you’ll have to be a licensed lender and follow all the rules that other licensed lenders follow.
It would be extraordinary circumstances for someone who is not in the business of lending to provide seller financing more than once every 3 years. If you are a house trader or a land trader and provide financing more than once in three years, you ARE in the business of lending money. Get your license, just like every other lender, and there is nothing in this bill that prohibits you from going about your business. If the licensing requirement is too much of a hassle, or following the rules that other lenders will follow in the normal course of business is too much of a hassle, then don’t go into the lending business.[/quote]
SK, it’s people like you confuse me! I am not lender I am alternative energy developer looking for creative ways to move land that we aren’t utilizing for projects and also financing on some of the projects that are joint ventured. You make it sound as if I can just walk right into an office and hand in my application. Sorry SK, it doesn’t work that way. Maybe you want to read some rules and see how difficult it actually is to become a lender (because we have) and then see much harder they are making it now.
I don’t know what line of business you are in, but by your pathetic response to the bill I would have to assume you are clueless about the business world. I try to create jobs and every piece of legislation that our government has put together this year seems to throw in some fine print that is destroying the entrepreneurship of the US!!! Think before you write unless you are completely happy with us turning into a socialistic society!!
