If nothing else, the Dodd-Frank Act certainly complicated issues around seller financing. The overall intention was to protect consumers from getting into loans that they were not likely to be able to repay. That’s all fine and good. However, the convoluted law may be doing more harm to difficult to qualify people than it’s doing to protect others.
The final rule took effect on Jan. 10, 2014. Ask four different financing professionals what it means to seller financing and you’ll likely get four different answers. Books will be written about this subject and eventually court cases will define what it finally means. This article is only a small glance at how this will roll out.
via Does the Federal Dodd-Frank Act Really Make Sense for Seller Financing?.
