Your SAFE experiences?

Hey you guys how about sharing your experiences with your (or any) state’s SAFE Act law?

Amazing how different @ is and from super-friendly like TX where one can even use a 3d party agency to do all this for the principal (owner/seller), some states’ versions basically require you to get individual permission from the state’s Director or Commissioner of the state agency in charge of enforcing its SAFE Act.

John, here in Missouri our Director of Finance got a letter out in 2010 clarifying his position on SAFE and its effect on in park MH lending.

Basically, in his view an installment sale is not an issue that applies to SAFE. Now, making a loan (paid-for MH, re-fi) using MH as collateral on the MH is an issue in which SAFE regs apply.

State’s SAFE laws

Shawn thanks for responding…sounds like your DFI has some good sense and I wish all states’ DFIs were equally savvy and with-it.

Anyone have experience in Kansas or Indiana with the SAFE Act?