New FTC Rule Impacts Realtors' Short Sale Business
A new rule from the Federal Trade Commission that aims to protect homeowners from mortgage relief scams may impact real estate professionals who represent clients involved in short sale transactions. The Mortgage Assistance Relief Services rule bans all upfront fees for renegotiating mortgage terms and mandates certain consumer disclosures. It is primarily directed at companies offering modification services, but the National Association of Realtors says certain conditions also apply to practitioners working with short sales. » Read More
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