florida foreclosure fraud law: Beware foreclosure rescue scams, "big brother" IS watching - 04/02/09 08:45 AM
With the real estate market and general economy the way it is, more and more predators have come out from under the rocks.  Last year I blogged extensively on the Florida Foreclosure Rescue law FS 501.1377 that went into effect 10/1/2008.  This was Florida Attorney General McCollum's baby and since it went into effect he has been aggressively going after violators. 
I was fortunate enough to go with a group last Fall and actually meet one-on-one with the Attorney General so that we could discuss concerns about this new law.  The AG was quite open with us and stated that the … (4 comments)

florida foreclosure fraud law: Florida Foreclosure Fraud Law sees its first violator - 02/21/09 01:53 AM
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 … (6 comments)

florida foreclosure fraud law: Florida attorney general issues opinion to Realtors(R) on the Foreclosure Fraud law FS 501.1377 - 11/12/08 08:28 AM
Florida Attorney General Bill McCollum issued an official opinion to the Florida Association of Realtors(R) last week regarding the Foreclosure Fraud law a/k/a FS 501.1377.
Basically what it boils down to is that real estate brokers and associates who are listing properties, negotiating short sales with lenders, and getting paid a commission at closing are fine as far as the AG is concerned.  Of course a court might just rule differently but hopefully not. 
You can read the specifics about the Attorney General's opinion on the FAR website.  So far a copy of this memo has not been published online anywhere that I could … (2 comments)

florida foreclosure fraud law: The new Florida Foreclosure Fraud Law FS 501.1377 - arriving statewide on 10/1/08 - 09/23/08 10:28 AM
That's right. This new foreclosure law goes into effect on October 1, 2008. That's just 8 days from now. 
This controversial Foreclosure Fraud Law a/k/a House Bill 643 a/k/a Florida Statute 501.1377 is coming at Florida real estate investors, home buyers, brokers and sales associates, title companies, home inspectors, short sale mitigators, and similar companies like a giant freight train.  If any of the above people are you and you haven't read up on the new law, you had better start getting very familiar with it.  Here is the link to the Florida Statutes for you.
     I've already elaborated on the law many times over the last … (7 comments)

florida foreclosure fraud law: Florida foreclosure fraud law update FS 501.1377 - meeting with the Attorney General - 08/19/08 03:04 AM
Last Friday a group of several people involved with the Central Florida Realty Investors (CFRI) legislative committee (including myself) got to sit down Florida's Attorney General Bill McCollum and candidly discuss various issues regarding the real estate industry including the new Florida foreclosure fraud law, FS 501.1377 a/k/a HB 643. We expressed many of our concerns about the new law and General McCollum was listening to what we had to say.  
General McCollum is also looking for input regarding ideas to lower the cost of Florida windstorm insurance and to combat mortgage fraud. If you have any ideas regarding any of these topics, please post them here or contact me … (4 comments)

florida foreclosure fraud law: More official opinions on the Florida Foreclosure Fraud Law FS 501.1377 - 07/14/08 02:29 AM
This is yet another update on the Florida Foreclosure Fraud Law, Chapter 501.1377, Florida Statutes f/k/a House Bill 643.  You can read the entire law at this website.
Previous posts I have made:
Some official opinions on Florida 's Foreclosure Fraud Law FS 501.1377
Florida's brand new foreclosure fraud law - the good, the bad, and the ugly 
Well now I have some more official opinions on this new law that will be going into effect on October 1, 2008. 
Last week Attorney General Bill McCollum issued an official bulletin (which I can email anyone a copy of) stating that … (6 comments)

florida foreclosure fraud law: Some official opinions on Florida ’s Foreclosure Fraud Law FS 501.1377 - 07/01/08 02:14 AM
A few weeks ago, I gave my "unofficial" opinions on this controversial new law that is now Florida Statute 501.1377 (formerly HB 643).  You can read the entire 14 page law at this link. Now some official opinions have come out on it. 
The big issue is that many non-scam artists appear to NOT be exempt or to be only partly exempt including lawyers, title companies, real estate brokers, sales associates, and owner occupant buyers. Here are some opinions that have come out on the new law:
Jacksonville bankruptcy lawyer, Chip Parker: Web link  
South Florida foreclosure lawyer, Michael Wasylik: Web link - He goes so … (11 comments)

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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F

Altamonte Springs, FL

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***Sign up for our email hot property list & newsletter*** We Buy Houses Florida.com (TM) We Buy Sinkhole .com I Buy Houses Orlando .com My thoughts on the real estate industry, real estate investing, rental properties, mortgages, listing houses in the MLS, government and legislative issues affecting real estate brokers and investors. Serving metro Orlando & most of Florida. Rob Arnold - ABR, CPL, CRB, GRI, PHP - Managing real estate broker, Notary Public Disclaimer: This blog is for educational, entertainment, and yes blatant advertising purposes. Read it at your own risk and enjoyment :-) It is not meant to be construed as legal or financial advice. These are my personal views and opinions only. Regarding any properties advertised on this blog site - all information is deemed reliable but is not warranted nor guaranteed - price, terms, and availability are subject to change without notice. Copyright © 2007-2013. Sand Dollar Realty Group, Inc. All rights reserved.




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