Mortgage Assistance Relief Services (MARS)

By
Real Estate Agent

The FTC has changed and implemented in rules that Florida Real Estate Agents need to be aware of when assisting customers with Short Sales.  There are no new disclosures that have to be implemented when dealing with customers.  First, there are now new regulations on how real estate agents who list short sales have to advertise and what disclosures have to be all all communication.  The disclosure needs to be larger than advertising the services of listing short sales.  We must also as real estate agents have signed disclosures that protect the sellers and the buyers from fraudulent practices of companies who solicit funds for negotiating a short sale by paying an up front fee.  We now have to have the disclosures signed by the seller when they receive the direct lenders approval for a short sale.

Comments (2)

Olympus Executive Realty Inc.
Olympus Executive Realty INC. - Orlando, FL
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Mar 12, 2011 03:51 PM
Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

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Mar 16, 2011 04:20 PM