Logon to http://www.regulations.gov
You will see two white boxes for searching
On the left box labeled “Document Type”, pull the menu down and select “proposed rules”
On the right box labeled “Enter keyword or ID”, enter “safe mortgage”. Then, press search
Locate the blue search result “FR-5271-P-01 Safe Mortgage Licensing Act: HUD Responsibilities Under ….” To read the rules, click on this title. You will be taken to another page. You will see “views”. You can click on PDF file or another symbol which will show you the rule document online.
On the right of the screen, click on “submit comment”
Complete the form providing required information and your comments and then submit

“What’s at stake?
-Abolition of property rights
-More government control
-Inability to sell a second home with seller finance
-Loss of ability to buy a property and resell w/spread if it’s
not a primary residence.
-Loss of ability to resell with seller financing, a note in
your portfolio which defaults.
-Non-performing notes will have to be bought at huge
losses to banks because investors will have to
sell the properties outright rather than getting them
performing and holding them for income.
-Sub-prime borrowers that I hold notes for are improving
their credit scores while building equity. These cus-
tomers will be forced back into rentals.
-This will directly and indirectly affect everybody who
works in real estate. Please get the word out!”