By: David Kucic, RA
CRS, GRI, ABR, e-PRO
First Sergeant, USA (Ret)
Tropic Lightning Real Estate
Yesterday I attended a forum about Hawaii Short Sales and Act 137 "The Mortgage Rescue Fraud Prevention Act". This act will greatly change the ways that real estate professionals will be able to assist you, the homeowner, in the sale of your home.
The bottom line is this: If you see yourself heading in the direction of a short sale, CONTACT SOMEONE IMMEDIATELY for assistance. Do not wait until you start missing payments, have liens placed on your home or become late with maintenance fees and association fees.
Once you are more than 60 days delinquent on your payment, myself and other Hawaii real estate professionals may not be able to assist you because you are then going to be classified under Act 137 as a "Distressed Property" in which case you will need to work with a "Distressed Property Consultant".
Conclusion:
If you still need to sell your home and need to sell it as a SHORT SALE, call your Hawaii real estate professional ASAP before you become a Distressed Property and may not be able to be helped any longer.
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