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House bill would drop ‘fully amortizing’ requirement for seller carryback financing
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Consumer Protection
Monday, January 21, 2013
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A U.S. House Republican proposed legislation that would amend a provision of the Dodd-Frank Act related to owner-provided financing of residential mortgage loans, also known as seller carryback financing. The measure introduced by Arizona Rep. David Schweikert would allow certain loans that are not fully amortizing to be used in seller carryback financing. Read on for the details.
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