Why is seller financing exempt from usury laws?
May 26th, 2010
1 comment
I don’t understand why sellers-of-real-estate offering financing to buyers should be exempt from usury regulations. (I know this is true in NY state). It benefits the sellers, but why would this be in the states’ best interest? Is it perhaps because it facilitates the primary mortgage market without involving institutional lenders? Still, it seems downright shady to me.
