Just thought I'd let this group know about a new bill that passed the NJ Legislature in June, 2011, called the Foreclosure Fraud Rescue Prevention Act.  You can find it at http://www.njleg.state.nj.us/bills/BillsByNumber.asp and you would type "A359" for the bill number.  This could be a problematic law with regard to certain buying/ selling activities of distressed properties.  I won't go into detail right here, but it is definitely worth a view if you are in this field.  (The bill has passed both houses, but the governor has NOT YET signed it; so it is still NOT YET law.)

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Update -- the bill has become law.  It was signed by the Governor on December 20, 2011.

This bill is now LAW, Gov. Christie having signed it in on Dec 22nd. It affects foreclosure consultants specifically, but I'm not clear if it affects flippers - and how you should/should not do business with distressed home owners. Check for yourself.



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