Foreclosure On Commercial Property In FL.
In CA, the rules for foreclosing on residential properties is different than for commerial and was wondering about FL.
Specifically the right to cure.
Once foreclosure starts on a commercial property, does the borrower have the right to cure the loan, or must it be paid off.
Does anyone have a reference to the code section governing this?
FYI
At first I was going to defend my REO brethren but lately, in my market anyway, I am seeing a steady increase in new REO listings with the following comment in the remarks section, "Already have a verbal acceptance of an offer, just waiting for the bank to return the paperwork."
The pocket REO market is alive and thriving.
Jim
Do you mean HARP (Home Affordability Refinance Program)? See http://makinghomeaffordable.gov/
Or is this (HAMP) yet another housing stimulus/bailout/entitlement?
Right now my best leads for new clients are coming from call capture. I use it on signs at the property, on the web ads and in print ads. I get an immediate page with the # for a warm followup. They can also click to talk to my cell or click to my lender.
Jim[ Edited by jimandlacy on Date 08/25/2009 ]