House Urges Feds to Consider Unique Alaska Homes
|HJR 51 pushes to make changes to home lending laws|
Posted: March 31, 2010
(Juneau) - The Alaska State House today unanimously passed House Joint Resolution 51, urging the federal government to make adjustments to the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE) as it applies to Alaska. Representative Wes Keller, R-Wasilla, sponsored the bill.
Owner-financing is a great tool for allowing sellers and buyers to negotiate a fair selling price for these unique facilities.
HJR 51 urges the reconsideration of home lending standards as they apply to Alaska under SAFE. SAFE was implemented to bring a standard of lending practices and to shore up the banking industry. Keller says the opposite is true in Alaska. He says that SAFE makes it difficult to secure loans and accrue profit for certain types of property and homes—such as cabins or other unique Alaska structures.
# # #