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Florida Foreclosure Fraud Law sees its first violator
The Florida Foreclosure Fraud Law, Florida Statute 501.1377 that went into effect on 10/1/08 has now seen it first person being charged with a violation.  This particular firm was charged with getting homeowners in foreclosure to pay a $2500 upfront fee in an attempt to do loan modifications.  FMA Servicing which is based right here in Central Florida has been charged by the Florida Attorney General's office with violating this new law.  You can read more details on this in the Orlando Business Journal.
  
A similar incident happened to a local investment firm that I know just a few months ago.  The whole family was indicted under other laws for equity skimming, but the point is that the Florida Attorney General isn't kidding around.  These people are still awaiting trial.  Orlando Sentinel article.
I have been saying for several years now that the entire real estate and mortgage industry is being scrutinized by a giant microscope.  So please dot your I's and cross your T's.  If you aren't sure if you are playing by the rules, please have your lawyer examine what you are doing.  Now is not the time to be dancing around in "gray areas" of the law. 
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