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Some fresh legal feedback on Florida short sales, foreclsoure rescue, & loan modifications
Last Friday Central Florida Realty Investors association put on a powerful discussion panel featuring Florida Deputy Attorney General John Pare', Mike Moore from the Florida Office of Financial Services, and 2 local real estate attorneys Bob Lerner and Joe Seagle.  The room was packed with at least 100 people coming from as far away as Tampa and Fort Meyers. 
  
This panel gave out a lot of true meat and potatoes as far as answering serious pertinent questions regarding the Florida Foreclosure Fraud Law FS 501.1377 as well as unlicensed activity by non-attorneys or real estate brokers. 
Many of the questions from the audience were concerning the "equity purchaser" part of the law which effects subject to, sale/leaseback, and similar type transactions.  However the Attorney General's office actually said that they have had very few complaints on those issues.  The main complaints they are getting are on people charging upfront fees for short sales, loan modifications, and other foreclosure rescue type operations.
Deputy AG John Pare' stressed several times that if you are charging upfront fees for any of these services to someone in foreclosure that in their eyes you are breaking the law.  He specifically stated that real estate brokers charging upfront or "retainer" fees ... more

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