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New law on Short Sales, know your rules and laws Florida. Everybody that deals with short sales here in Florida should read the new law that comes into effect on October 2nd 2008

Here is a link to it

http://www.realestateradiousa.com/landing/shortsalereport.html

I am not sure if Governor Christ is doing the people that are in a Short Sale situation a favor or not.

Most Realtors do not understand the procedure and most home owners don't understand it either, now it is more difficult to get help from an independent company and look at the fines. Homeowners in a distressed situation that can not make their mortgage payments anymore will have a difficult time to find a Broker that is willing to take this risk. We still do Short Sales in our company, but it is getting more difficult by the minute.

 

Below is an update that I found today

 listen to the interview

 

 

 


 

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This post has been included in Florida Real Estate News

1 Comments on New law on Short Sales, know your rules and laws Florida

SEP
27
2008
159,160 Points 5 Featured Posts

This law appears to be an attempt to stop fraudulent practices, particularly equity purchasers who are trying to take advantage of homeowners. It seems fairly clear to me, but I need clarifications on a few sections from a real estate attorney. I don't think it will stop or hamper reputable Realtors from helping distressed sellers with short sales.
8:39am • #1

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Anne Hensel Realtor Broker St Pete Beach - Treasure Island - Madeir

Saint Petersburg, FL

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South Beaches Real Estate Professionals

Address: Madeira beach, Fl, 33708

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Cell Phone: (727) 410-7777

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Real Estate for sale in Pinellas County Florida. St Petersburg and Tampabay, listing or selling properties. FSBO tips and information. Treasure Island and Madeira beach homes and condos for sale.


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