Protection of Homeowners In Foreclosure Act (PHFA) Jeff Shiller, Attorney-At-Law Maryland PHFA My Experience Sneak Peak of Membership Access Testimonials My Guarantee Link To PHFA Law Order PHFA Program Private/Group Consultation

From: Jeff Shiller, Esq.
Date: 
Re:  Maryland Protection of Homeowners In Foreclosure Act

Dear Real Estate Professional,

Are you a Real Estate Investor, Realtor or Mortgage Professional involved in any of the following?

• Marketing To Homeowners?
• Consulting With Homeowners About Real Estate Or Financial Problems?
• Buying Pre-Foreclosure Properties?
• Selling Real Estate?
• Contacting Homeowners More Than 60 Days Behind On Their Mortgage?
• Short Sales?

Make Sure You Fully Understand Maryland’s PHFA Law…

Although many real estate professionals are still not aware of it, Maryland has recently made drastic amendments to the Maryland Protection of Homeowners in Foreclosure Act, one of the most stringent homeowner protection laws in the Country.  Many other States have enacted similar legislation, and Congress is considering a Federal law.  If you are an investor or real estate professional involved in any way with people that are late on their mortgages, you could be risking heavy fines, legal fees, loss of income - even jail time - if you violate any portion of this law.

What is the History of this Law?

As taken from:  Department of Legislative Services Maryland General Assembly 2008 Session.... House Bill 361 

Chapter 509 of 2005 was enacted to address the growing problems of foreclosure "rescue" scams.  In these types of scams, unscrupulous companies and individuals take advantage of homeowners who are facing foreclosure.  These predators search the court records for foreclosure actions and then contact homeowners and offer to help them avoid foreclosure. (read more)

The recent changes as of April 3, 2008 are no longer just about foreclosures.  Anyone, either knowingly or unknowingly dealing with owner occupied properties that are 60 days or more late on their mortgage must comply with this updated law.

Do Not Take The PHFA Lightly…

Here are just a few of the questions and comments I get from various real estate professionals about the Maryland Protection of Homeowners in Foreclosure Act:

• I’m a Realtor, so I’m exempt when I deal with these types of properties, right?
• I’m only helping out a friend that needs a loan to save his house from foreclosure.  They wouldn’t come after me would they?
• I’m still allowed to negotiate the short sale for the Seller, correct?  After all, they can’t do it themselves and the only way I can make money on the deal is to negotiate the short sale and then buy the property.
• I am an investor that works through a Realtor to buy pre-foreclosures, so I’m insulated from all this nonsense, aren’t I?

Unfortunately, in every one of these situations, the PHFA would apply and if you violate any provisions of the law you could land in hot water.  Here are some examples:

• If you’re a “we buy homes fast” investor and you advertise the wrong thing on your signs, mailers or website, or unknowingly say the wrong thing to the homeowner you will be legally BARRED from buying the property.
• If you are a buyer or a Realtor and you don’t give a seller of a “Residence in Default” the correct disclosure/disclaimers or rescission notices, the seller could cancel your deal – even years later – thereby risking your profits and ownership.
• If a Realtor, investor, title company or mortgage professional assists in any way with buying or assigning property, leasing the property back to the seller, taking a property by quitclaim deed, brokering the property, re-conveying the property back to the homeowner, mortgaging the property, using a power of attorney, or contacting the seller’s lender in any way (just to name a few things), and you don’t follow the rules exactly as written, you could be staring down the barrel of a criminal conviction, court imposed fine, or loss of real estate/professional license.

There are so many nuances to this law that even those that helped write the law have run afoul of it.  Recently, a Maryland legislator that voted to enact the PHFA was prosecuted for violations of the law.   His defense was that the law was “unfair” and he was the only one that was damaged, as he was out $30,000.00+ for just trying to help a friend.  Here is a link to the entire article:

The Bottom Line?  There is a lot of misinformation being circulated in the real estate community about the PHFA and you must be very careful when dealing with homeowners potentially covered by this law – not only in what you say or write, but also how you contact and advertise to them.  And you must know how you insulate yourself from any potential problems in the future.

Never Worry About The MDPHFA Again…

So have I scared you enough?  You’re not alone - I recently received an email from an investor that told me he moved his real estate investing business to Nebraska because he was afraid of Maryland foreclosure laws! (What he doesn’t understand is that every State will eventually have a law similar to the PHFA so he can’t get away from it)  There is so much fear in the real estate community about the PHFA that some real estate professionals have simply turned their backs on properties they suspect may be subject to it. 

But I have some really great news for you!  This does not have to be the end of your real estate career in Maryland.  If you have the correct advice, the correct professional support and the correct documentation, there is no reason you can't "stay in the game" and become one of the area’s “elite” real estate professionals that not only completely understands the PHFA, but also how to make tons of money on PHFA deals.

As a local real estate attorney, I have dedicated a large amount of my resources and time to understanding the PHFA, educating others on how to deal with PHFA issues, and legally documenting and closing PHFA deals.  I work regularly with all types of Realtors, investors, homeowners, foreclosure consultants, short sale experts and lenders to make sure they are operating within the bounds of the law.

I have now produced this website and the accompanying materials to allow you to benefit from all of my efforts.  By purchasing my materials and joining our elite group of real estate professionals, you will be able to LEGALLY:

• Market to homeowners looking to sell due to financial problems, including loan default or foreclosure;
• Buy, list, broker, wholesale, flip, leaseback, assign or otherwise deal with properties and homeowners in a PHFA compliant manner;
• Understand what you can and cannot say to a homeowner and when you can and cannot purchase a PHFA protected property;
• Document and close on any PHFA transaction;
• Become a Foreclosure Consultant and earn up to 8% of the property value, even when you don’t buy the property!

Join Our Elite Group NOW!

Unfortunately, despite reading this, many real estate professionals will choose to remain uneducated about when the PHFA applies and how to deal with PHFA transactions or, worse yet, will intentionally violate the law in hopes they will never get caught.  But I assure you that ignorance will be NO defense in a court of law if something were to ever happen.  Just ask Tony McConkey.  And besides, do you really want to go to bed at night worrying about having one of your deals blow up on you?  Do you want to spend thousands on legal fees?  Do you want your professional license “yanked”?  Do you want your name in the newspaper and on TV for violating the PHFA?

Because you don’t want to end up on the 6:00 evening news, make sure you get your PHFA information, documentation and consultation from an attorney with experience in real estate and, in particular, PHFA transactions. 

My Guarantee To You

No other “seminar guru” or “PHFA trainer” selling PHFA products or services will make this bold GUARANTEE -- I promise you will get:

• All of your questions answered about how to buy, sell, or list Maryland properties in a PHFA compliant manner;
• All the documents (and any amendments thereto) you need to LEGALLY complete a PHFA transaction, as well as instruction on how and when to use them;
• Honest information from a real attorney with 14+ years experience that practices in the PHFA  trenches every day with Investors, Realtors. Foreclosure Consultants, Buyers and Sellers;
• Access to title, contract, and many other real estate services you will need to close on not only PHFA transactions, but many other creative investor transactions, from “assumptions” to “lease-options” to  wholesale “flips”

In fact, many other “gurus” selling this stuff specifically disclose that they are NOT attorneys and CANNOT give you legal advice or stand behind what they are selling.  Does it make sense to buy documents or services with these types of disclaimers?  Do you really want to use a document set that has not been “blessed” by an attorney?  Will the couple hundred dollars you save be worth the $10,000.00+ legal bill you will have later on defending yourself against a disgruntled homeowner?

But just so you feel completely comfortable with what you are buying, I’ll gladly make the guarantee even better -- If you don’t feel like I’ve lived up to the promises I made,  I will gladly refund 100% of your money to you, no questions asked.

Includes BRONZE PACKAGE SILVER PACKAGE GOLD PACKAGE The “PHFA Investor Pack” : Prepared by Jeff Shiller, Attorney-At-Law Comprehensive PHFA Instruction Manual:  "How To Legally Invest In Maryland Foreclosures"    Full Audio Files from a most recent PHFA live 2 day boot camp   1-Hour private consultation with Jeff Shiller, Attorney-At-Law   Full email and phone support with Jeff Shiller, Attorney-At-Law     Exclusive strategies for making money not only as an Investor, buy also as a “Foreclosure Consultant”   List of real estate providers who are compliant with the new PHFA law     Limited Time Bonuses Usual Retail Price $3,940 $5,285 $PRICELESS Today's Discounted Price $795 $1,095 $1,795

TOTAL VALUE WITH BONUSES = OVER $4,500+ LIMITED TIMES PRICES ORDER NOW: $795 or $1,095 or $1,795 SECURED PAYMENTS THROUGH PAYPAL      To Your Success! Jeffrey Shiller Jeffrey P. Shiller, Esq. P.S.  Remember to order now.  This is all the information you will need to properly invest, market, solicit and close on Maryland foreclosures In a PHFA compliant manner