“Here Is The Solution To Avoid Being Fined By The State Of Florida For Interacting With A Homeowner In Foreclosure.”

Discover the Fastest And Easiest Way To Immediately “Legalize” Your Real Estate Career!

Read This Information Carefully If You Are A

Real Estate Investor, Wholesaler*, Mortgage Broker, Realtor, Foreclosure-Rescue Consultant, or Short Sale Specialist.

*Additional Risk Factors 

If You Are Any of These Real Estate Professionals,

You Are Likely Breaking Florida Law And

You Probably Don’t Even Know It!

Florida State Statute Section 501-1377 (“Foreclosure Rescue Transactions”) has become law and it is very clear; either you comply or you violate the law.  If you don’t have a legally qualifying Disclosure Document signed by the homeowner in foreclosure, and you follow strict contracting guidelines, your only hope of avoiding fines is waiting for the statute of limitations to expire. 

Does this sound “over the hill”?  It may, but is has been a reality since over a year ago with the passage of the first so called “anti-investor” legislation by the State of Florida.  An even more explicit legislation was signed into law May 28^th, 2008 by Governor Crist.  This Statute limits the way you can do business with homeowners who are contemplating or already in foreclosure.  In addition to Florida, thirteen other states have passed investor “unfriendly” legislation and six other states and the Federal government are currently drafting legislation for possible passage this year!

The Florida Statute (Section 501-1377 “Foreclosure Rescue Transactions”) passed on May 28^th, 2008 replaces the previous legislation (Section 501.2078 “Violations involving individual homeowners during the course of residential foreclosure proceedings”).  This earlier legislation is being repealed October 1, 2008 by the new Statute.  This new law beefed-up regulation of the foreclosure industry and is specifically aimed at anyone interacting with homeowners in foreclosure by “offering to buy their foreclosure property, offering to postpone or  “stop foreclosure”, anyone who charges an “up-front” fee for any related service to foreclosure or short sales, and anyone offering a lease option to a homeowner in  foreclosure”.  Included in the new legislation (s. 501.1377) are very specific clauses regarding the maximum profit on a lease option transaction, exact font size for certain “must have” clauses in your contracts or disclosures, a 3 day right-of-rescission, a required one day “preview” by the homeowner of all Contracts/Agreements”, restrictions on transactions involving land trusts, and much, much more!

You can no longer do foreclosure real estate investing or foreclosure “rescue” work in Florida without having proper disclosure documents without facing $15,000 fines per violation!

The Only Question Is:  How Soon Will

You Be Caught And Fined?

Dear Fellow Real Estate Professional; As a real estate investor for 33 years, we seem to be in a “perfect storm” of hard to get buyer loans, foreclosures seemingly without end, competition from many other investors, and now an attack on the industry by well-meaning legislators who may not realize the damage they may be inflicting on the investing community. Despite all the additional economic problems at hand, people need homes to live in and our fundamental economic issues will pass but just how soon no one really knows.  I have lived through two other serious real estate downturns in South Florida and history will repeat itself by the market returning to “normal” in the future. This is a really unique time for anyone in real estate because prices are probably at 10 year lows and there are buyers out there.  In other parts of the country, home prices have stabilized and are increasing slightly.  As with all diversity, the people who make the most money have the foresight to buy when everyone else is selling.  Whether you are considering becoming an investor, realtor, mortgage broker, a wholesaler, or you plan to provide foreclosure related “rescue’ services for a fee, Florida’s new legislation must be dealt with before your next meeting with a perspective client! To keep you from unintentionally violating the new law, we have worked with our group of attorneys to provide you with the actual disclosure documents that you need for every homeowner, whether they are in foreclosure or NOT in foreclosure. Please take a few minutes and read the rest of this page so you better understand the seriousness of the legislation and its consequences for you.  The solution at hand is to make your career in this industry one of great return versus having to look over your shoulder waiting to be served with a summons because of a document you didn’t have signed. To your success, Dave Dinkel, President Heritage Realty Services, Inc.

                    

What’s All The Fuss About?

Florida Senate Senator Mike Fasano, District 11 Press Release FOR IMMEDIATE RELEASE May 28, 2008 CONTACT: Greg Giordano (727) 848-5885   Senator Fasano Announces that Governor Crist Has Signed Foreclosure Rescue Fraud Legislation Into Law Senator Mike Fasano announces that Governor Crist signed HB 643/ SB 992 into law today which places into statute many protections for individuals facing foreclosure. The legislation was a top priority of both Senator Fasano and Attorney General Bill McCollum. In 2007 alone there were over 245,000 mortgage foreclosures in Florida. Additionally, Florida ranks second in the Nation only to California in the number of foreclosures in 2007. A common practice of scam artists who pray on those facing foreclosure target homeowners trying to avoid closure by presenting themselves as foreclosure rescue counselors. The schemes perpetrated by these individuals include charging high fees for work the homeowner could do themselves; and a false bailout (where the homeowner is lead to believe that they can sell their home, rent it short-term and eventually repurchase the home). The legislation protects consumers by informing them of their rights when they are entering into a contract with a foreclosure rescue entity and by including further protections for those who face foreclosure. It requires that foreclosure rescuers include in large bold font notification to homeowners of this right of cancellation on the contract and a recommendation that the homeowner contact the lender or mortgage holder prior to the signing of the agreement. It further informs the homeowner the consultant is prohibited from accepting any form of payment until all services are completed. Most importantly the bill creates a three-day right of cancellation for homeowners who sign a contract for foreclosure rescue services. "The threat and fear of losing one's home has driven many people to unknowingly seek the services of unscrupulous foreclosure consultants," Senator Fasano states. "Passage of this legislation will ensure that those who decide to seek the help of a professional are given as many protections as the law will now allow to ensure that their rights as a homeowner are not infringed upon." "Florida homeowners now have an important tool to protect their most valuable possession - their homes," said Attorney General McCollum. "By protecting our citizens who face the threat of foreclosure from those individuals who would prey on them, this law will ensure that homeowners will not be further victimized at a time of personal financial crisis."

                       

The new law covers two categories of individuals/entities – the “Foreclosure-rescue Consultant” and the “Equity Purchaser”. 

The Foreclosure-rescue Consultant is anyone “who directly or indirectly makes a solicitation, representation, or offer to a homeowner to perform, in return for payment of money or other valuable consideration, foreclosure-related rescue services.” 

The Equity Purchaser is anyone “who acquires a legal, equitable, or beneficial ownership interest in any residential real property as a result of a foreclosure-rescue transaction.”

If you deal with any homeowners in foreclosure to purchase their home, or offer any foreclosure related services, you are breaking the law if you don’t have the required Disclosure Documents signed by the homeowner – No “If, Ands or Buts”!  Each violation is subject to a fine of up to $15,000.

            Federal legislation is currently being drafted called the “Foreclosure Rescue Fraud Act of 2008” (S. 2888) which has one very onerous clause that sums up the intent of the legislation – “A Foreclosure Consultant is ANYONE who delays or helps a homeowner avoid a foreclosure, whether the Consultant charges a fee or not”.  We are part of a lobby effort to have our industry be heard so that misguided legislation doesn’t do much more damage to an already fragile industry instead of targeting a few bad apples in the barrel!

Don’t expect a judge to listen to your plea of how much you helped the homeowner because “he would have lost his home if you hadn’t helped”.  You have violated the law because you didn’t have the homeowner sign the REQUIRED Disclosure Documents so you are GUILTY – plain and simple.  Don’t expect it to help if you drag the homeowner into court with you and have them plead for you, because you simply violated the law, no matter what the outcome for the homeowner.  Doing a good deed can truly get you in real trouble if you don’t do it legally!  Again, it’s completely black and white, either you did it right or you are guilty of breaking the law.  Ironically, complying is very simple once you have the qualifying documentation.

NOTE - One requirement is that the homeowner must sign the receipt the day before they sign any contract with you and you must leave all the documents they will be signing with them to read overnight.  The homeowner also has a 3 day “Right of Rescission” from the day they sign the documents and, if the homeowner cancels, any monies collected MUST be returned within ten days if the homeowner cancels.

Another major change that the legislation brings is that as a Foreclosure-rescue Consultant you can no longer charge an up-front fee for any “rescue-services” including short sales, loss mitigation negotiations, loan modifications, etc.  Charging any up-front fee is completely illegal!

The Solution is Very Simple –

Get Every Client To Sign The Required

Disclosure Document

To Keep You Out Of Trouble!

Real estate “Wholesalers” are at highest risk because they have traditionally done a lot of work with homeowners in foreclosure.  More importantly, when a wholesaler sells to another wholesaler who may sell to another wholesaler, who then sells to an “end” buyer, the entire “daisy chain” of assignors and assignees is at risk for the same non-disclosure violations.

So investors might say that you shouldn’t worry because the fine is only $15,000 per violation.  However, based on the Statute, it is entirely possible to have 3 – 5 violations per deal.  The problem gets even worse when you consider that wholesaler who does just 5 deals is involved with a potential “daisy chain” of buyers and sellers who could have violations and penalties of as much as $300,000 for each member of the wholesale chain.  That’s figured by $15,000 x 2 violations/deal x 5 deals x 2 people in each “daisy chain” = $300,000!

Why haven’t you heard about this legislation before?    I can’t tell you why, but I do know that a representative at the Attorney General’s Office said they called for comment from our industry and NO ONE came forward.  This is the apathy we see in the industry because everyone only looks out for themselves.  Before it is too late, it may be time to band together to support the lobbying effort that we have already become a part of for our industry.  On our part, a portion of every sale we make goes into this direct lobbying effort. 

With all this talk of “rules and regulations”, “doom and gloom” we could overlook the exceptional opportunity that exists with this legislation.  For the faint hearted, the prospect of doing something unknown will deter them from entering or staying in the industry, resulting in less competition.  The bad guys that caused all this knee-jerk legislation will be forced out of the business, resulting in even less competition.  The ones who are left will police their local areas by turning in other investors who are not complying and once again, less competition.  The survivors who take charge and get our Disclosure package for use with their clients will survive and thrive.  You can be one of the survivors, the choice is yours!

My dad always said let’s look at the “Pros and Cons” of having a Disclosure Document, so here they are in the old Ben Franklin format:

Click Here to Preserve Your Investing Future

One of the “risks” not generally discussed is with the homeowner who sells you his property but he is not in foreclosure.  Later, he hears from his neighbor, friend, or wannabe attorney about the new “Anti-investor” law that regulates home sales by homeowners in foreclosure or contemplating foreclosure.   If the previous homeowner suddenly decides he was “contemplating foreclosure” when you bought his home and you didn’t comply with the new law, he may just report you to see if there is anything in it for him!  Included in the package with your “Foreclosure-Rescue Transaction Agreement” is another disclosure document JUST to cover this situation!

Now is the time to take charge of your investing destiny by purchasing the Disclosure Documents you need to be a “worry-free” professional.  Get your copy today so you have it for your next presentation!

Here’s What YOU Get In The

“Foreclosure-Rescue Transaction Agreement” Package:

1.)	A detailed 40+ page e-book (pdf format) detailing the existing and the new regulation, copies of reference Statutes and other documents, and a detailed clause by clause review, with comments, on the new legislation’s impact on all real estate professionals.  (Value $99)
2.)	A 67 page Reference Text of Florida Legislation related to this Statute (pdf format) so you can refer to Chapters and Statutes that are mentioned in Statute 501.1377.   (Value $29)
3.)	An attorney-drafted “Foreclosure Disclosure Agreement” (in Word format) that complies with Florida’s Current Disclosure Requirements that is being repealed effective October1, 2008. (Value $299)
4.)	An attorney-drafted “Foreclosure-Rescue Transaction Agreement” (in Word format) that complies with Florida’s Current Disclosure Requirements as well as the new Statute that becomes effective October 1, 2008. (Value $299)
5.)	A Word Document File with “Disclosure for Homeowners Not in Foreclosure” (Value $29)
6.)	A percentage of all profits from these sales will go to supporting a lobbying effort on the behalf of all real estate investors – your silent but appreciated contribution!  (Value Greatly Appreciated)
7.)	Peace of mind that you are complying with Florida law!  (Value Priceless)

Total Value $755

BONUSES for ORDERING TODAY!

1.)       Ongoing Legislative Updates regarding the current pending Federal Legislation

          (Value $79)

2.)       Ongoing Legislative Updates regarding the new legislation that is being drafted for Short Sales in Florida.  This bill hasn’t even been discussed with the public yet!

          (Value $79)

Total Bonus Value $158

Total Value $913!

Is that the best I can do? 

Absolutely NOT!

Grab Your Peace of Mind

Now for Only $199.00!

Required Florida Disclosure Documents $199.00 USD Order your compliance package before the price increases when these disclosure documents are required and you get Free updates if you order NOW! Your Order is 100% Safe, Secure, Risk Free and Fully Guaranteed

Click Here to Preserve Your Investing Future

The above documents, files, and bonuses will be delivered by email

immediately after your credit card is processed.

 

Thinking About Letting Your Attorney Draft Your Disclosure Docs? – GREAT!

If you want another legal opinion or someone else to write your docs, purchase this package anyway and have your attorney review the “Foreclosure-Rescue Transaction Agreement” and make any changes he wants.  By buying the text you will save your attorney hours of tedious research work, consequently a lot of money for yourself, and you will get future updated disclosure documents and ongoing legislative updates at no additional cost!  Make sure your attorney will do this for you.

It’s too late to protest the new Statute, but it is never too soon to start complying!  Some investors have asked me for his number to start reporting non-complying investors to “thin out the ranks” as they called it, and this is the number that others have used in the past.  Don’t let yourself get weeded out by your competitors and have to pay unnecessary fines at the same time!   

Because this is an electronically downloadable product we cannot offer a refund policy. The material has been produced by one of Florida’s most respected law firms so we are confident it meets all legal requirements.  In addition, they will also provide new documents as needed and these will be forwarded to our registered members.   Each purchaser will be registered to his personal copy of the “Foreclosure-Rescue Transaction Agreement” package and all future updates will be sent electronically to him exclusively.  Membership has its privileges!

Buyer Beware - If you split this package with someone else, they run the risk of NOT getting changes, upgrades, and legislative updates in the future.

Warning

THE INFORMATION ABOVE, AND THE INFORMATION IN THE BUYER’S PACKAGE IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL OR ACCOUNTING ADVICE.  YOU SHOULD SEEK ADVICE FROM AN ATTORNEY OR CPA SHOULD YOU HAVE ANY ADDITIONAL QUESTIONS.  THE AUTHOR IS NOT SELLING OR PROVIDING LEGAL OR ACCOUNTING ADVICE.  THE DOCUMENTS FOR SALE HEREIN HAVE BEEN PREPARED BY ATTORNEYS AND NOT BY THE AUTHOR OR HIS STAFF.          

If you have any comments or suggestions or comments you can contact the author a Support@RequiredFLDocs.com

 

Click Here to Preserve Your Investing Future

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