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 photo credit: bbcworldservice
The Gulf oil spill effects are likely to be much farther reaching then any of us can foresee at present, but many real estate professionals can see immediate effects. A portion of the money set aside for claims and victims of the Gulf Coast oil spill will now go to realtors that have been affected by the mess.
The new administrator of the Gulf Coast Claims facility, Kenneth Feinberg had no intention of sharing some of the $20 billion with realtors along the affected coast, but members of the state Realtor associations from the affected states convinced Feinberg that many real estate professionals may not have a legal claim, but they certainly have a moral claim on some type of compensation.
"I think it's the right thing to do under the circumstances," Feinberg said, according to an article by The Washington Independent.
"He realized there may not be a legal justification, but I think he has come to realize there is a legitimate need and cause for what happened. He sees that loss of income is a result of the oil spill, and he's trying to do the right thing within the guidelines that he's given,"
The president of the Alabama Association of Realtors, Keith Kelley said. Kelley also helped during the negotiations.
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Posted on August 25, 2010 13:25:31 by  IPTV.Boyz
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