hb 643: 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)

hb 643: 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)

hb 643: 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)

hb 643: Florida's Foreclosure Fraud law HB 643, confusing to say the least - 06/09/08 02:27 PM
I have read through this foreclosure fraud law about 5 times now and discussed this at length with several knowledgeable people including attorneys, Realtors, a mortgage broker, and an investor that is a "short sale specialist."  Here is a link to the new law. I am glad for the lievely discussion in my previous post.  It helps me to better interpret the law for myself.  It seems this law provides far more questions than answers.  The definitions are screwy and the exemptions are even screwier.  Are attorneys exempt or aren't they? Are Realtors and appraisers exempt or aren't they? Are buyers exempt in a … (7 comments)

hb 643: Florida's brand new foreclosure fraud law - the good, the bad, and the ugly - 05/29/08 09:54 AM
If you are not aware yet, Governor Crist just signed into law House Bill 643 the Foreclosure Fraud law.  You can read the final version of the bill by clicking on "Enrolled" on the legislative website or simply clicking here.  
In general, I am against anything regulating free trade and capitalism.  The more regulation out there, the more expensive and difficult it is to do business.  This in turn reduces competition thus giving members of the general public less choices and higher prices.  If you don't believe me, just think of how lack of competition and high taxes and regulation have affected gas … (33 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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