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<p class="MsoNormal">Follow up question to this one, kind of related: if a seller of a property sells the property and the buyers gets conventional financing, but seller after closing of the initial sale to buyers, decides to loan money buyers via secured
by a Prom Note and DOT, do they have to follow any special rules since they are not the lender per se just financing loaned money for the buyers. Parties are unrelated but friends.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#C45911">Athena Makratzakis Dickerson<o:p></o:p></span></p>
<p class="MsoNormal"><a href="https://linkprotect.cudasvc.com/url?a=https%3a%2f%2fdetsparlaw.com&c=E,1,3MignbV7JN3fDW35Ex6-X8EUG7nEGjNuKTlfq-Aje1rdb6fDs8Yt68iJDkX__xogulPxvRxqczE1jab42wQRIayCHjlfyP0fLjpZdlZRIPinoeG9OpKmAQ,,&typo=1"><span style="font-size:10.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#C45911;text-decoration:none">DETHLEFS
SPARWASSER</span></a><span style="color:#C45911"><o:p></o:p></span></p>
<p class="MsoNormal"><a href="https://linkprotect.cudasvc.com/url?a=https%3a%2f%2fdetsparlaw.com&c=E,1,bLSaO3IzGA_4xpDLui54w20Gh4qqnIdqihOO9lsFaFpEr3IyQlnxxNFTiURyp45gMfqeZoZNVArN8uCnWCEWoTGD7jQGcUGBlkqV6h6b1rlgrg,,&typo=1"><span style="font-size:10.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#C45911;text-decoration:none">REICH
DICKERSON PLLC</span></a><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#1F3864">100 Second Avenue South, Suite 190 I Edmonds, WA 98020<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#C45911">P
</span><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#1F3864">425.776.1352 I
</span><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#C45911">F</span><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#1F3864"> 425.776.2467<o:p></o:p></span></p>
<p class="MsoNormal"><a href="mailto:athena@detsparlaw.com"><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#1F3864;text-decoration:none">athena@detsparlaw.com</span></a><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#1F3864">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#203864"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-align:justify;text-autospace:none"><span style="font-size:8.0pt;font-family:"Franklin Gothic Book",sans-serif;color:#203864">This message and the documents attached to it, if any, contains confidential information from DETHLEFS
SPARWASSER REICH DICKERSON PLLC, is intended only for the use of the addressee and may contain information that is privileged and confidential under applicable law, and/or may contain attorney work product. If you are not the intended recipient, you are hereby
notified that any dissemination of this communication is strictly prohibited. If you have received this communication in error, please delete all electronic copies of this message and its attachments, destroy any hard copies you may have created and notify
our office immediately.<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Mark Anderson<br>
<b>Sent:</b> Thursday, July 14, 2022 12:39 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Private loans<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">One additional consideration of which I am aware is related to the minimum interest rate to be charged in a situation involving “family loans.” The minimum federal
rate, also known as the “Applicable Federal Rate,” sets the lowest amount of interest that must be charged on a loan. The AFR is published by the IRS every month. If the rate is below this, the risk exists that the IRS will consider the loan a gift and tax
the transaction accordingly.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060"><o:p> </o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com"><span style="color:blue">marka@mbaesq.com</span></a><br>
<a href="http://www.mbaesq.com/"><span style="color:blue">www.mbaesq.com</span></a><b><o:p></o:p></b></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial Narrow",sans-serif;color:#002060">CONFIDENTIALITY NOTICE<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial Narrow",sans-serif;color:#002060">This transmission is confidential and is intended solely for the use of the individual named recipient. It may be protected by the attorney-client privilege, work
product doctrine, or other confidentiality protection. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, be advised that any dissemination, distribution, or copying of this communication is prohibited.
If you have received this transmission in error, please immediately notify the sender via e-mail or by telephone at (253) 327-1750 that you have received the message in error, and then delete it. Thank you.</span><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#002060"><o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Craig Gourley<br>
<b>Sent:</b> 07/14/2022 12:19 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Private loans<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Listmates. I suddenly have several separate clients wanting to make private loans to refinance home loans for relatives, friends etc. These are NOT seller financing. These are “let me pay off your existing mortgage and you can make payments
to me” cases. I have some knowledge of Dodd Frank and the State regulations and I know that there are exceptions for seller financing. Are there any exceptions for these non-seller financing loans secured by the borrower’s personal residence? Work arounds?
I appreciate any input. Thanks, Craig<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>GOURLEY LAW GROUP</b><o:p></o:p></p>
<p class="MsoNormal"><b>THE EXCHANGE CONNECTION</b><o:p></o:p></p>
<p class="MsoNormal"><b>SNOHOMISH ESCROW </b><o:p></o:p></p>
<p class="MsoNormal">P.O. Box 1091<o:p></o:p></p>
<p class="MsoNormal">Snohomish, WA 98291<o:p></o:p></p>
<p class="MsoNormal">PH: (360) 568-5065 (800) 291-8401<o:p></o:p></p>
<p class="MsoNormal">Fax: (360) 568-8092 <o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt">CONFIDENTIALITY NOTICE: This electronic mail transmission may contain legally privileged, confidential information belonging to the sender. The information is intended only for the use of the individual or
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