In a new twist in the never ending saga of the GCCF, Mr. Feinberg has now given real estate agents and related industries with losses from the BP oil spill the opportunity to claim their real losses with the GCCF fund of 16 billion dollars.
Real Estate Fund For BP Claim Has Moved to The GCCF Fund
In August of last year GCCF setup a separate fund of 60 million dollars just for real estate agents. This fund had a limit to the losses people could claim. That limit was $16,000 in some states, and $18,000 in Florida.
So its a good sign that the GCCF opens up for all claims from real estate agents and related industries, including title companies, mortgage brokers and really anybody in the real estate industry. You have to document a loss from 2009 to 2010 to be able to file a claim with the GCCF. I am sure that there are still losses that GCCF will not cover unless you retain an attorney to help you in the process, but for now that is good news.
An Example Of A BP Claim From A Real Estate Agent
Now lets take an example of a claim filed by a real estate agent, we will use Mss. Summer.
In 2oo9 Real estate agent ” Mss. Summer” sold 20 houses and received a commission of $400,000 or $20,000 per house. In 2010 because of the oil spill ” Mss. Summer” only sold 5 houses with a commission of $60,000.
Now Mss. Summer has a legitimate loss of $340,000 for 2010. If Mr. Feinberg’s methodlogy holds true Mss. Summers should be able to get $340,00 for 2010 (less any money she got from the real estate fund) and $340,00 for 2011 for future losses. The same example should hold true for mortgage brokers or anybody that would have lost their job in real estate because of the slow down following the oil spill.
Related Industries Real Estate Also Eligible For BP Claim
A list of related industries that can now also file for a BP claim after Mr. Feinberg ‘s reversal on his already stated policy.
-Real Estate Appraisal
Real Estate Inspection
-Real Estate Title Companies
As GCCF has a proven track record of being very slow in approving or denying claims, it will take a very patient person to go though the GCCF process on your own. Also the use of special forensic accountants to lay out your claim in the best possible light will help in the amount of money you would hope to get from the GCCF. If you need any help with your claim please follow the guide below.