Weighing Options for Seller with Carryback Loan on Land

Carryback loan on land

Question: In one of your columns a buyer had purchased forty acres of land in northern Arizona (“Forty Acres”) with financing for the purchase of this Forty Acres by a seller-carryback $200,000 five-year mortgage loan. After five years, however, there had been none of the anticipated development in the area, and the Forty Acres was…

Read More

New Seller Carry-Back Financing Rules

       Seller Carry-Back Financing Rules As anticipated, some of the new Dodd-Frank seller carry-back financing rules will now apply to any financing provided on owner-occupied housing, including seller carrybacks. While the term “mortgage originator” is defined broadly under the Dodd-Frank Act (See 15 U.S.C. §1631), an exemption exists for property owners offering seller carry…

Read More