Congressman Allen Boyd (D-North Florida) voted in favor of legislation last week that will help responsible families, who are struggling to make ends meet, stay in their homes.
The Helping Families Save Their Homes Act (H.R. 1106) will offer an alternative to foreclosure by providing incentives to lenders to modify loans and allowing a court of last resort the ability to adjust existing mortgages.
This legislation improves the Federal Housing Administration’s Hope for Homeowners program to protect servicers that take part in loan modification programs from investor lawsuits, while providing incentives for lenders to modify loans to avoid a more costly foreclosure. The bill also allows, as a means of last resort, homeowners to permit a bankruptcy judge the authority to reduce principal, extend the repayment period, and adjust the terms of the mortgage, provided the homeowner has exhausted all steps to modify their loan outside of bankruptcy and have run out of other options.
The Helping Families Save Their Homes Act passed the House of Representatives on March 5, 2009. It has now been referred to the Senate for consideration.
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LICENSE RENEWAL
Only 27 days remain for real estate pros who must renew their license in the first quarter, which ends March 31. To maintain a license, post-licensing or continuing education requirements must be completed and renewal fees paid, even for licensees operating with a suspended license. According to DBPR, the department now has a "100% Post and Continuing Education Monitoring database." If your required education is not completed (or completed but not reported), DBPR will deny license renewal. Need to check your status to see if your license expires March 31? The DBPR Web site allows visitors to check licensee status and license renewal expirations online at:
https://www.myfloridalicense.com/wl11.asp?mode=0&SID
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