PAR uncovered a story last year about a trend in real estate as Craigslist scams began occurring throughout the country. It appears to be happening again.
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PAR uncovered a story last year about a trend in real estate as Craigslist scams began occurring throughout the country. It appears to be happening again.
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The Federal Trade Commission (FTC) today announced a new policy which suspends enforcement of virtually all the Mortgage Assistance Relief Services (MARS) rules against real estate licensees involved in short sales.
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With the overwhelming numbers of distressed properties in most areas, there are few real estate companies or brokers that can avoid working with foreclosures or short sales. By remaining cautious, ethical, and using additional documentation, many of the risks involved with these transactions can be avoided and allow a successful and profitable transaction!
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Earlier this year we told you about new federal rules that would potentially affect Realtors® (and others) involved in short sale negotiations.
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Before the housing bubble exploded in 2005, there were about 100,000 foreclosure filings in the U.S. Since 2006, however, there are reportedly over 9 million and counting.
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One of the keys to short sales is understanding the process, knowing what to say to bankers and who to work with, according to Realtor® Courtney Franklin, who also teaches a course on the short sale process. “The process has gotten better, not necessarily faster. And banks are trying to streamline the process," he...
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Short sales can help some consumers avoid foreclosures “but a short sale is not for everyone,” according to Courtney Franklin, Realtor® and short sales instructor.
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The videos include speakers David Bleicken, deputy secretary of the PA Department of Banking, Dona Palmer, manager of business development for homeownership programs at the PA Housing Finance Agency and Courtney Franklin, Realtor® and short sales instructor.
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Realtors® involved in short sales transactions may be affected by rules recently issued by the Federal Trade Commission (FTC).
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Thursday, Feb. 9, 2012
