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HUD Attempting to Outlaw Owner Financing & Wants Your Fingerprints

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User ID: 568958
United States
02/14/2010 05:00 PM
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HUD Attempting to Outlaw Owner Financing & Wants Your Fingerprints
HUD Wants Your Fingerprints - or Else

Agency Seeks to Outlaw ALL Owner Financing On All Non-Owner Occupied Homes.

Demands That Property Owners Become Fingerprinted, "Licensed Mortgage Originators"

Rules Apply to Owners Who Own Their Property Outright

Creates New Class of Outlaws and Could Force People to Finance Through The Federal Government

February 16 Deadline for Public Comment


Dear Citizens:

In its latest attempt to control Americans capital HUD has proposed stunning, private property busting rules in Docket No. FR-5271-P-01. This proposal provides a window into the minds of your federal employees who have clearly decided that your property rights must be lassoed for "your own protection." Like most new regulations, these rules create new legislation without legislation being proposed by your representatives. In this case HUD has been granted authority by the Secure and Fair Enforcement Mortgage Licenscing Act of 2008, signed into law by President Bush, to do whatever it pleases to enforce the general spirit of the Act. A few hightlights of the proposed regulations:

1) Outlaws ALL unlicensed owner financing unless the owner occupies the property.

2) Requires mortgage originator licensing if you seek to finance your property to someone - even if you own the property outright.

3) You cannot receive a license if you've committed any felonies - ever - meaning you'll never be permitted to self-finance your property under any conditions if you're a felon of any kind.

4) Mandates fingerprinting to finance your own property

5) Threatens a $25,000 penalty for owners who fail to obey HUDs rules

6) Forces owners to complete 3 hours of Federal Law training

7) Mandates owners complete 2 hours of federally approved 'ethics' training

8) Requires that owners complete 2 hours of lending standards training

9) Puts upon all self-financing owners and their prospective buyers dramatically higher costs and decreased opportunities to engage private property transactions.

10) Stops you from exercising your own constitutionally protected private property rights until the government approves your conduct - and charges you for it.

11) HUD grants itself authority to summon you any time it chooses for a host of reasons

12) I could go on, but you get the point.

Irrespective of what the document claims, the primary purpose of this legislation is to force more lending and taxable transactions to pass through federal hands. But, of course, this and the endless rules and regulations steamrolling our society are for our own protection... right?

You may make your opinion known to HUD regarding this proposed legislation (disguised as a "rule") by following the instructions on page 2 of the document. I encourage you to contact your local real estate professional who might be able to explain how these rules will affect all property holders - and those who seek to become property holders - in one fashion or another.

FORWARD this email to all people who value their private property rights. More alerts coming over the next two weeks as some legislation and rules are "sliding" under the radar.

Thank you,

Edward Whittaker


RescueUS Project dba

Citizen Assemblies


[link to citizenassemblies.com]
DOJ/ IRS Fail! - Hear from the ones that got away! [link to www.youtube.com]

You know we live in the dark days of history when the common people fear their government more than criminals! FCO 06/14/2005
Anonymous Coward
User ID: 890720
United States
02/14/2010 05:10 PM
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Re: HUD Attempting to Outlaw Owner Financing & Wants Your Fingerprints
I bought a house with my parents years ago while in the military. Didn't do much with it until years later when the payoff was $7000. Have since totally rebuilt the house with large $80,000 addition all paid off. Did the work myself.

They likely are wanting no private sales at all. Another form of debt slavery. But it isn't here yet. We can still sell houses and cars.
Anonymous Coward
User ID: 887095
United States
02/14/2010 05:14 PM
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Re: HUD Attempting to Outlaw Owner Financing & Wants Your Fingerprints
7) Mandates owners complete 2 hours of federally approved 'ethics' training

 Quoting: Heyoka

Those commies are insane. Ethics training? You mean the training they never seemed to have got? There isn't a bit of ethics in evidence in Washington D.C. right now.

You don't need rules and laws about something unless there is a problem. Just what problem can they point to right now about owner financing? Nothing.
Anonymous Coward
User ID: 891390
United States
02/14/2010 10:50 PM
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Re: HUD Attempting to Outlaw Owner Financing & Wants Your Fingerprints
I've bought two house so far in my lifetime and have never taken out a mortgage. I bought directly from the owner. We made our deal, I filed the contract with the county courthouse, and then I received the full deed from the owner, unencumbered, after fulfilling the agreed-upon contract. There is no government that can regulate that. It appears that somebody wants to, and they may try, but it will never happen. It's laughable, really. What next? Trying to regulate car sales between owner and buyer? Maybe federal certification so somebody can buy food from a grocer?


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