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NAR Collaborates with U.S. Treasury on Short Sale ‘Help for Homeowners’

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A new National Association of REALTORS® collaboration with the U.S. Department of the Treasury will help REALTORS® better assist homeowners who are struggling to sell their homes in a short sale.

REALTORS® who attend upcoming Making Home Affordable “Help for Homeowners” outreach events, sponsored by the Treasury Department, will learn insights to help them navigate the short sale process and have the opportunity to meet directly with loan servicers on their clients’ behalf for assistance with difficult transactions.

“As the nation’s leading advocate for homeownership and housing issues, REALTORS® are working hard to keep more people in their homes, and when a family is absolutely unable keep their home, REALTORS® are there to help homeowners by facilitating a loan modification or short sale,” said NAR President Moe Veissi. “I encourage our REALTORS® members to participate in these new events so that they have the tools and information to help distressed homeowners achieve the best possible outcome.”

Help for Homeowners community events will take place throughout the year; the first session was held on the 22nd, with an additional event on the 24th. More events are scheduled in Chicago, Indianapolis, Los Angeles, and Sacramento, Calif.

At the events, REALTORS® can attend workshops to hear directly from lenders and loan servicers about executing short sales in today’s challenging market. They’ll learn tips on how to navigate the short sale process, effectively negotiate short sale offers and expedite transactions. REALTORS® will also hear from Treasury officials about various foreclosure prevention programs, and specifically the Home Affordable Foreclosure Alternatives (HAFA) short sale program. Live webinars from the workshop will be available to real estate professionals who can’t attend in person.

The sessions for real estate professionals are not open to homeowners, but borrowers who are in financial distress and concerned about losing their home to foreclosure are encouraged to attend the free homeowner sessions.

Homeowners who are having difficulty paying their mortgage will be able to meet one-on-one with loan servicers and housing counselors to explore foreclosure prevention options and work toward solutions to their mortgage problems. Real estate professionals are encouraged to invite homeowners and their clients to the events and are welcome to accompany their clients in conversations with the servicers.

“REALTORS® embrace the opportunity to partner with the Treasury Department and drive participation at upcoming “Help for Homeowners” events. Working together we can improve the success rate for short sale transactions, which will reduce the overall number of foreclosures and benefit sellers, lenders, buyers and the entire community,” said Veissi.

Additional information for consumers about the “Help for Homeowners” events is at www.makinghomeaffordable.gov/get-assistance/homeowner-events/Pages/default.aspx. Real estate professionals can get more information or register to attend at www.hmpadmin.com/portal/resources/eventinfo.jsp.

For more information, visit www.realtor.org.

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