QUESTION

Dear Mike, I attended last night and already received your followup 24hr.access email. The question I have is did Harry say if I use private lenders money to purchase say a REO,rehab it and use a properly licensed MLO to flip to an end buyer I am still in violation of safe act?  Richard Baffuta 


 

ANSWER

Dear Mike, I attended last night and already received your followup 24hr.access email. 


The question I have is did Harry say 

“if I use private lenders money to purchase say a REO”,
This is in violation of the new laws

odds are, you can find attorney and title companies to do the closing; however, it is still a crime.

 

I agree this is absolutely outrageous, but our objective is to protect your butt, the title companies and the attorneys.

This is so dang serious, attorneys and title companies could lose their license to practice!

rehab it and use a properly licensed MLO to flip to an end buyer I am still in violation of safe act?

 

 

 

Good Luck Richard!

Mike Butler

 
 

 

Comments

comments

Filed under: Private Lending

Like this post? Subscribe to my RSS feed and get loads more!