Bankruptcy, foreclosure may prevent broker from leading Florida Realtors

A Broward County broker who was on a path to become the president of Florida’s statewide Realtor association several years from now may end up being derailed by a bankruptcy filing, the Tampa Bay Times reports.

The 2013 bankruptcy filing showed Christine Hansen, 49, in foreclosure on an investment property she owned with her ex-boyfriend, and that she was the defendant in a lawsuit filed against her by another agent, the Times reports. Florida Realtors say Hansen’s eligible to become treasurer when the association’s board meets Aug. 17 to choose 2014 officers.

When the National Associations of Realtor’s 2013 president, Gary Thomas, took office, he’d filed for personal and corporate bankruptcy protection from creditors who were owed millions in debts.

In November, NAR is expected to ratify an overhaul of the association’s elections process approved by the board of directors in May that would require NAR elected leaders to meet minimum financial requirements similar to those their clients face when taking out a mortgage.

The new rules, which will take effect Jan. 1, would bar candidates who have filed for personal bankruptcy or been foreclosed on within the last seven years; who have credit scores below the baseline required for a mortgage backed by the Federal Housing Administration (FHA); or who have delinquent federal, state, or local tax filings or payments. Source: tampabay.com.


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