Has the so-called “foreclosure crisis” faded into the dustbin of history? The Fund’s Ongoing Short Sale and REO Solutions seminar explores practical tactics to wade through short sales and REO purchases, remnants of the foreclosure tsunami. This seminar briefly reviews recent legislative changes to Florida foreclosure law, such as when “Show Cause” is initiated by third party defendants, and the Department of Justice settlement and how it has impacted the turnover of distressed properties. The seminar’s main focus is on short sales from pre-listing through closing and the cleaning up of any pending foreclosure actions. The other major aspect of the seminar is REO transactions. Special emphasis is placed on the pitfalls to avoid and tactics to use in order to facilitate smooth transactions involving either short sales or REO property. The discussion includes a comparison of short sale and REO contract addenda, and the drawbacks and issues clients must be aware of within those contracts. This seminar is approved for 3.0 general CLE credits and .5 ethics with the Florida Bar, and 3.0 hours of continuing education with NALA and DFS.
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