Legal Question in Real Estate Law in California

Re: Usury Law

There are exceptions to the usury laws, and mortgage companies (and banks) usually fit these exceptions.

Re: Usery Law

No, it doesn't. (How much is your credit card interest?)

Re: Usery Law

The usuary laws are vast and compex. There is no simple explanation. Essentially, interest rates have to be charged according to law. Certain notices must be provided in the loan documentation,etc. 10% is not a violation of the usuary laws. Besides, you can always get another loan (refinance) the second to get a better interest rate. Good luck and thanks for inquiring.

Re: Usery Law

Usury laws do not apply to loans that are arranged or made by a California licensed real estate broker. Civil Code section 1916.1.

There is a general federal pre-emption of state usury laws for "federally-related" residential mortgage loans, which includes any loan eligible for purchase by Ginnie Mae, Fanny Mae or Freddie Mac (the federal loan-repurchase instrumentalities). 12 U.S.C. 1735f-7a; 12 CFR 590.

Finally, the usury laws do not apply to sellers who carry back purchase-money deeds of trust. Ghirando v. Antonioli (1994) 8 Cal.4th 791.

Re: Usery Law

if done properly the skys the limmit and there is no ceiling on the amount of interest you can charge --- why ask now???? i am intrigued and if you wish my help as i have done for over 30 years for nembers of folks call me at 925-945-6000