Florida short sales, have to be mortgage broker/realtor now?

[Samuel Ksiazkieicz]

I will be moving to Pensacola in a month or two and just received some annoying information. According to several people I know there, starting January 1, Governor Crist made it a crime for anyone who is not a mortgage broker or realtor to speak with a bank about another individuals mortgage, i.e. no short sales negotiations etc.
Has anyone else heard about this or experienced it?

[Bill Gulley]

Hi Samuel, the way I read the bill mention is that when a property owner has a les pendis filed for foreclosure an investor can not use an option to transfer an equitable interest in connection with consulting with that owner about the pending foreclosure. So, it's something to watch out for.
The activites of a foreclosure work-out consultant need to be avoided, but does not appear to limit anyone from buying a property in foreclosure.
It does not apply to pre-foreclosure activities, only after the filing does this law start ticking. IMO. perhaps a little modification to the approach on these deals is all that needs to be addressed.
The law also excludes non-profits that deal in these activities. By the way, if you have three or four unrelated parties with similar business attitudes, a non-profit is, absolutely the best entity to use in many areas of real estate. Non-profit does not mean it can't have income and pay officers, managers and employees or provide retirement plans and benefits. Non-profits are exempt from many limitations and regulations concerning real estate matters. Bill