Frutkin Law Firm rolls out short-sale primer course
Phoenix Business Journal - by Mike Sunnucks
Jim Poulin/The Business Journal
Adam Buck
Date: Tuesday, August 23, 2011, 9:20am MST - Last Modified: Tuesday, August 23, 2011, 9:35am MST
Short sales of distressed homes have proven problematic for underwater homeowners as well as some real estate agents who find themselves caught between stressed out borrowers and their banks.
While short sales have allowed some borrowers and their banks to avoid foreclosure, problem cases have resulted in tax liabilities for homeowners and occasional legal action against real estate brokers when deals go south.
Adam Buck, an attorney with the Frutkin Law Firm PLC in Phoenix, has at least one course of action that might help borrowers and their real estate agent. In order to better educate consumers about short sales and protect real estate agents from getting hit with lawsuits, Buck and his firm have developed an online short-sale primer course. Realtors pay $45 for a one-year subscription to the course and then can refer homeowners to the course, which outlines short-sale basics. The course is designed to educate consumers, but also give the agent some protection from legal actions. Buck has about 300 real estate agents subscribing to the online course.
Buck and his firm also offer homeowners a one-hour, short-sale consultation for $145, and then a follow-up $125 visit in which counsel reviews short-sale approval letters from banks line-by-line.
That can help homeowners avoid questionable practices by some lenders and make sure they get the best short sale possible, as well as avoid tax or legal snafus.
Mike Sunnucks writes about politics, law, airlines, sports business and the economy.
