Here it is! The 2012 version of the much despised short sale addendum from Freddie Mac! As reported in several preceding articles, thanks to the American Land Title Association and others, the "sting" of being liable for any other party's misdeeds in a short sale transaction has been more or less alleviated.
Strangely, it is still called an addendum, not an affidavit, and refers to an affidavit, which in fact is the addendum. Go figure......
The new form has a new paragraph 14 along with other subtle changes, but the end effect is that it is clear that you know what you know and what you don't know won't come back to haunt you. There is a provisio - turning a deaf ear or a blind eye to information you would have otherwise known is false or fraudulent will not be an excuse - that is still negilence on the part of the signor.
Interestingly, this form has grown in just 6 months from 12 paragraphs to 14 paragraphs, one paragraph at a time. Will we see 15 paragraphs anytime soon?
Here is the new form and it can be compared to the previous form by going to my previous article: Freddie Mac Short Sale Addendum - Item #13 - I DON'T THINK SO!!
Copyright 2012 Richard P. Zaretsky, Esq.
Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader. Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com Website www.Florida-Counsel.com.
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TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES