The New Law Governing Limited Liability Corporations and their Real Property Transactions
In June 2013 the Florida Legislature passed the Florida Revised Limited Liability Act (the “Act”). As of January 1, 2015, all limited liability companies operating under Florida law are subject to the new Act. The provisions that most concern title insurance involve the authority of members, managers, or third parties to bind the organization in transactions involving real property.

Changes to the FAR/BAR Contract
In February the Florida Realtors/Florida Bar Joint Committee (the “Committee”) commenced its biannual review and revision of the FAR/BAR Contract (the “Contract”). Pursuant to the new rules and requirements issued by the Consumer Financial Protection Bureau (CFPB Requirements), the Committee has recognized several changes to the Contract necessary to make before the CFPB requirements take effect on August 1st, 2015. The nine changes consist of edits to contract provisions for extending the closing date, financing, closing costs for title insurance and deadlines for surveying, periods for inspection, and the Force Majeure standards for performance.

In Fear of Foreclosure?
By now, most homeowners facing foreclosure are aware of the federal government's Home Affordable Modification Program (HAMP) which offers a way to avoid foreclosure for those who wish to keep their homes and meet certain eligibility guidelines. HAMP has come under public scrutiny for disappointing results in terms of homeowners who have obtained successful modifications and the numerous complaints that Lenders are inconsistent in their treatment of applicants."

Do I Qualify For A Loan Modification?
Under Obama's Making Home Affordable (MHA) Plan, every Homeowner who is struggling to make mortgage payments and is in financial distress is entitled to apply for a loan modification. The latest MHA data reveals that Homeowners in permanent loan modifications have seen their monthly payments cut by a median of 40%. That is over $4.5 billion in reduced mortgage obligations in the last year. It's no wonder more and more Homeowners are asking "Do I qualify for a loan modification?"