[nomorelurker]

I'm beginning to think you are correct. There are currently laws on the books that require use of a licensed professional in seller finance transactions with some exceptions for sale of ones current home and a few other instances. Goggle up Residential Mortgage Loan Originator or something like that. This looks to be something to make it even more complicated. I still can't understand how the Feds can regulate the private sale of land with no bank involved. Real Estate should be something that can in no way involve interstate commerce if you think about it.

[mlocher]

Real Estate should be something that can in no way involve interstate commerce if you think about it.

Great point. Which is why the feds want to force it to be financed by inter-state institutions.

[thackney]

The law states it only applies to creditors making loans more than 5 times in a single calendar year.

This is not a law about individual sales, but those in the business of making loans.

http://www.fdic.gov/regulations/laws/rules/6500-1400.html#fdic6500226.2

PART 226—TRUTH IN LENDING (REGULATION Z)
Subpart A—GENERAL
§ 226.2 Definitions and rules of construction.
(17)(v)