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Looking back at the FTC’s MARS ruling – What should I look for in an agent to list my short sale?
As of Feb 2011 FTC’s rules regarding the MARS disclosures went into effect. We scrambled to adjust contracts, agreements, and disclosures to meet these disclosure guidelines as our local association had not created anything to address MARS. As of the beginning of July our association came out with forms to address this ruling and as of 7/15 the enforcement of the guidelines were adjusted as to how they would relate to real estate agents in good standing. There were some parts of MARS that were poorly applied to the process of agents helping home owners but a fair amount of the regulations in my opinion were nice to see for the protection of homeowners.
The original MARS ruling outlined the following:
Advance Fee Bans (follow the links above for details)
Disclosures (follow the links above for details)
Prohibited claims
The MARS Rule prohibits mortgage relief companies from making any false or misleading claims about their services, including claims about:
the likelihood of consumers getting the results they seek; the company’s affiliation with government or private entities; the consumer’s payment and other mortgage obligations; the company’s refund and cancellation policies; whether the company has performed the services it promised; whether the company ... more

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