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

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

Posted by Anne Hensel Real Estate Broker St. Petersburg houses and condo for sale on 09/26/2008 08:11 AM

Comments (1)

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Originally posted at: Properties, Houses and Condos for Sale in St Petersburg Treasure Island Florida: New law on Short Sales, know your rules and laws Florida

This post has been included in Florida Information

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

SEP

2008

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.

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Anne Hensel Real Estate Broker St. Petersburg houses and condo for sale

Saint Petersburg, FL

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Anne Hensel Real Estate Professional buy or sell St. Pete

Address: Madeira beach, Fl, 33708

Office Phone: (727) 399-9990

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