Hi folks. OK so I feel compelled again to write about Short Sales and knowing how to get paid. There is so much bad information out there.

There are many agents, brokers, attorneys, negotiators and others that are just adamant that agents are at the mercy of the lenders when it comes to commissions.

I read an article on another site where the agent asked a simple question wanting to know if his seller could pay him additional commission above the 6% the lender approved.

Responders were shocked that he would even consider taking more money from his “distressed seller” others stated is was illegal or a violation of RESPA and no lender would EVER allow it.

I guess my questions are:

1. Why do so many agents not understand how to get paid?

2. Why do so many agents believe RESPA has control over every transaction?

3. Why do agents assume all short sale transactions are from distressed sellers?

4. Why do agents believe lender guidelines are laws?

5. Why do so many agents not know how to negotiate?

Here’s what I suggest.

• Seek legal advice from a competent attorney in your State to see what you can and can’t do. Make sure the attorney can back up his opinions by case law. Remember attorneys are also giving you an opinion. It may be wrong.

• Ignore most of what NAR and our local boards say about short sales. Their job is to err on the side of caution to protect REALTORS(R). Their opinions and suggestions may very well be harmful to your customer/clients and your pay check..

• Always verify. Ask to see the law. Then read it an form your own opinion.

• Know when RESPA applies and when it doesn’t.

• Understand the difference between laws, guidelines, suggestions and opinions.

For example, this blog article is my opinion based on my research. Don’t take my word for it.

Folks, your ability to help people with their Real Estate needs is greatly limited if you don’t become a student of Real Estate. Do your own research and figure out a business plan that works of you and your customer/clients. You may be surprised to find out what you can do. What say you?

Are you facing foreclosure in Florida?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

In the presence of so many caring colleagues at the 2012 Cultural Summit at Family Reunion KW in my hometown Sharing one thing in mind "culture" of a marketplace and business model. It's nothing I could have imagined. Change was difficult but soooo well worth the sacrifice! SHOUT THE CULTURE from your hearts! Deeds of passion. good deeds and teamwork. 😄

"It's kinda like Skydiving" the Starbucks barista said when I told him what I did. Thanks for the new slogan Matt

Florida homeowners and foreclosure victims will receive almost one-third of the $8.4 billion mortgage settlement announced yesterday. The settlement amount is second only to California. “This settlement will provide substantial relief to struggling Florida homeowners, and ensures that our state gets its fair share of the relief being provided nationally,” says Florida Attorney General Pam Bondi.

According to Bondi, most of the money will go to current homeowners who are underwater – who owe more on a mortgage than their home’s current worth – in the form of principal reductions and/or converting their mortgage interest rate to lower levels. About $170 million will go to homeowners who lost their home in foreclosure.

The settlement applies to clients or past clients of five of the nation’s biggest banks: Bank of America, Wells Fargo, JPMorgan Chase, Citigroup and Ally Financial. Other banks may also sign on, though they have not been named. Negotiations are ongoing. The settlement does not apply to loans held by Fannie Mae and Freddie Mac.

Settlement details Relief won’t be immediate. While the agreement calls for immediate principal reductions for first and second liens, it will take up to two months for negotiators to select an administrator to handle the logistics, up to nine months to identify eligible homeowners and contact them by mail, and up to three years to complete the process.

Underwater homeowners get relief. The agreement calls for Floridians to receive $7.6 billion from banks to pay for refinancing relief, including principal reductions; borrowers with higher interest rates will also be able to refinance at 5.25 percent. While banks will handle the disbursements, state Attorneys General will oversee the process.

Foreclosed owners get cash. Ex-homeowners who lost a home within the past three years will receive about $2,000 each even if their foreclosure did not involve allegations of robo-signing. Critics, however, say that amount is far too low to compensate for their suffering.

Foreclosures could increase. “The immediate results are not going to be all that pleasant,” predicts Mark Vitner, an economist with Wells Fargo. “The amount of foreclosures will actually increase and there will be some additional downward pressure on home prices.” Some homeowners have lived in a home over two years as the foreclosure process crawls through Florida’s legal system. Analysts, such as Vitner, believe the just-announced settlement brings clarity to the process and banks will proceed more quickly to take back homes.

Florida oversight grows stronger. The state will collect $350 million from the settlement to pay for foreclosure prevention programs and to protect consumers. A new website includes settlement documents, a set of frequently asked questions, breaking information, and addresses for the banks involved in the settlement. It also includes links to Fannie Mae and Freddie Mac so homeowners can find out if their mortgage is included in the settlement. For more information, go to NationalMortageSettlement.com.

**************************************************************************************

Jerry LaRose is an Orlando Area Residential Real Estate Expert and Foreclosure Specialist who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit: Avoid Foreclosure / Short Sale Help http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com, or http://OrlandoRealEstateVoice.com , If you’re a Buyer looking for Great Deals - http://InvestmentPropertyDealsOrlando.com Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake, Osceola and Brevard County Florida and Orlando, East Orlando, St. Cloud, Davenport, Clermont, Longwood, Windermere, Winter Garden, Kissimmee, Winter Park, Altamonte Springs, Maitland, Apopka, Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent and realtor who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

We also have now expanded to help homeowners to Stop Foreclosure in Brevard County Florida. Servicing Melbourne, Coco, Coco Beach, Satellite Beach, Palm Bay, Indian Harbour Beach, South Patrick Shores, Palm Shores, Rockledge, Cocoa West, Merritt Island, Port Saint John and Titusville Florida Call us at 407-580-7011 or email at jerry@JerryLaRose.com to find out more about Orange County Short Sales and Orlando Area Short Sales. Orlando Short Sales, expert, specialist, Realtor, Keller Williams Realty, agent, broker, short sale, stop foreclosure

Pedestrian Tales From The Middle of the Road, #15

I'm breaking my rule a bit here- and reporting this Pedestrian Tales From The Middle of the Road that 1) involves an injury to one riding a bike versus a pedestrian, and 2) (as of last I heard) doesn't involve a death.

But rules are made to be broken. This piece of traffic news may very well be more important than some of the posts I've done on deaths- it's surely one to make any parent cringe or get their dander up.

Think about it...were it not for a Monster of the Millenium candidate by the name of Josh Powell, there's not much that's worse than a lady getting across the street safely herself- then luring her child into the street against approaching traffic. Amazing...

What a disgusting, pitiful (and in my eyes criminal) display of "parenting". At the risk of sounding callous or insensitive towards Ms. Shuler at a time when her son clings to life across town, I'm just going to call it as I see it:

Ms. Shuler, you should be ashamed- and you should be locked up for your careless and reckless acts here that may very well send your young son knockin' on Heaven's door.

They continue to do little towards enforcing our pedestrian/crosswalk laws overall, but I pray tonight that if Orlando Police Chief Paul Rooney and Orange County Sheriff Jerry Demings never get another thing right before they leave office, they'll look to ensure you never have custody of young Deontae again.

Get well, little Deontae. And may God have mercy on you, Ms. Shuler, but may the courts here not follow suit.

Boy, 9, critically injured after car struck his bicycle

Deontae Shuler was crossing the intersection behind his mother when he was struck by a car.

Susan Jacobson, Orlando Sentinel

A 9-year-old Orlando boy is in critical condition after being hit by a car Wednesday while riding his bicycle across

Orange Blossom Trail, the Florida Highway Patrol said.

Deontae Shuler was struck by a northbound Volkswagen about 3:55 p.m. near Wakulla Way, north of Oak Ridge Road, troopers said. The child was not in a crosswalk or at an intersection, they said.

Deontae's mother had just crossed the street and was urging him to hurry when he was hit. He was being treated at Arnold Palmer Hospital for Children in Orlando.

The driver of the car, Saul Hernandez, 19, of Orlando, was not hurt.

Pedestrian Tales From The Middle of the Road, #15