NAR Provides HAFA Guidance For Realtors

Posted by Orb Staff on February 22, 2010 No Comments
Categories : Mortgage Servicing

The National Association of Realtors (NAR) has published new resources that are designed to help Realtors and consumers successfully navigate short-sale transactions, the trade group announced Friday.

According to the most recent Realtors Confidence Index, buyers continue to be discouraged with the extended short-sale process. To help Realtors understand the upcoming Home Affordable Foreclosure Alternatives (HAFA) program, which officially becomes effective April 5, NAR has released a brochure about HAFA, as well as additional resources online, including government forms and guidelines, a video explaining the new federal guidelines, and frequently asked questions.

‘Our members report that short sales are often riddled with delays and red tape," says NAR President Vicki Cox Golder.

In addition to its resources on HAFA, NAR launched a Short Sales and Foreclosures Certification Program in August 2009. The SFR program is offered by the Real Estate Buyer's Agent Council of NAR and includes training on how to manage short-sale, foreclosure and real estate owned transactions.

SOURCE: National Association of Realtors

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