Real Estate Short Sale - should owner sign a Land Trust and Limited Power of Attorney? - florida limited power of attorney form
A friend and her ex-husband a mortgage for the house as the man tried to avoid a short sale on this foreclosure. My friend, the woman said they had to the office of an agent and sign up for a package of paper are set up on short-selling () on Saturday.
In the office of the officer challenged him to a land trust in Florida, and limited power sign, because the real estate agent or whoever is in control of the property and would not be necessary, care, and d 'to call, and also to internal documents and CYA . The office has a sign outside the door with the inscription "Stop Foreclosure Now".
I fear that this may be a fraud, foreclosure rescue. I begged him to a lawyer before signing any document, including the Land Fund to speak. I fear he is at home, and always the responsibility of the mortgage. Ex-husband has already approved the documents.
This is the Land Trust and the limited powers of the routine should be for a package of short selling for the lender and / or routine "will be sentinternal documents "to the CYA or sellers that's really the deal?
Why "Power Limited" When my friend and ex-husband still lives in the same city where the house?
Thank you for your help!
Wednesday, December 30, 2009
Florida Limited Power Of Attorney Form Real Estate Short Sale - Should Owner Sign A Land Trust And Limited Power Of Attorney?
1 comment:
You are right to worry. I am very experienced and competent sales and short skits. That's what I think they do. The company is seeking ownership of the property (bad), so that they can try to break the lender (which is fine) and then re-rent the tenant buyer. It may be that the current mortgage and even a short sale or just selling the second and bring the first current (depending on what makes sense). So basically this is still a tenant of the former husband and the promise that you will buy again in 1-3 years can be rented (or others) or to another tenant in the future. With a Land Trust is intelligent, it protects the owner in cases where the tenant pays no rent. It also hides the identity of the owner and the tenant can cancel mortgage interest, which I am sure that the tenant must pay property tax.
In California it is illegal for an estate agent or broker to request a lawyer. See how a license agent or broker has the fiduciary duty to their customers, I think thew as possibly in your country also exists.
I would not advise signing a proxy and read every contract before signing. The company is making money and nothing to ex-husband or his friend. Yes, maybe the first is the hope of the property back without treating with his friend. There is simply too much potential for the company and the ex and I'm careful.
One last point: the power of attorney and a land trust are not required for a short sale. Selling as you need the following:
1. HUD-1 (cost sheet)
2. Financial Spreadsheet of the borrower, tax returns, bank statements and pay check stubs.
3. Difficulties Ask why you can not pay the mortgage
4. Announces Agreement
5. Offer to Purchase
6. Authorization to disclose information
Good luck and good that your friend is an intelligent person like you who is cherished and nurtured.
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