Posted by les gee on June 11, 2004 at 02:18:41:
In Reply to: Can I Legally do This? posted by Greg on June 03, 2004 at 21:44:08:
well yes. First off each state is different.
But nationally there is a predatory lending law.
Which to me is the biggest concern due to the penalties.
Is this an owner occupied loan? Then check read the law.
If you are below 10% with no less than 5 yr below with a certain dollar size, then you probably have nothing to worry about on the predatory lending.
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