Recent media reports have suggested that the FHFA, Fannie Mae, and Freddie Mac will start to take severe legal action against strategic defaulters. But are mortgage cops really going to chase down these individuals with the goal of locking them up?
With frustration levels high as buyers and sellers navigate short sales and REOs, the chance of getting snagged in a lawsuit is higher than it otherwise might be. Even if you aren’t personally named in a legal action, you could be subpoenaed to answer attorneys’ questions in a deposition if you had a role in a transaction gone bad. Before you’re deposed, here’s what you need to know.
Residential real estate has become more complex over the years as a result of laws enacted to protect consumers’ welfare. Here are 23 federal laws that play a part in residential real estate. The list is not exhaustive, but it provides an idea of how much of the real estate transaction falls under federal regulation.
REALTOR® Magazine ethics columnist Bruce Aydt, general counsel at Prudential Alliance, REALTORS®, in St. Louis, shares his thoughts on doing the right thing when faced with the six most challenging articles in the NAR Code of Ethics.
The NATIONAL ASSOCIATION OF REALTORS®’ Board of Directors last year made several enhancements to the NAR Code of Ethics that take effect this year to help ensure the Code remains up-to-date as practitioners confront new situations. Here are four changes you’ll want to make note of.