Mortgage Assistance Relief Services (MARS) Rule
www.nar.realtor/mortgage-assistance-relief-services-mars-rule#section-166093
About
To protect distressed homeowners from mortgage relief scams that have sprung up in recent years, the Federal Trade Commission (FTC) published the Mortgage Assistance Relief Services (MARS) final rule on December 1, 2010. The rule is now in effect. The rule had impacted real estate professionals who represent clients involved in a short sale transactions.
Member Benefits
While the intent of the MARS rule is to protect distressed homeowners from mortgage relief scams, it is written so broadly that it also required real estate brokers and agents acting in NAR and the FTC discussed the difficulty real estate brokers and agents have in complying with the literal requirements of the MARS rule since it was not drafted with a real estate sales transaction in mind. their licensed capacity to comply when they negotiate with the lender on the terms of a short sale. NAR and the FTC discussed the difficulty real estate brokers and agents have in complying with the literal requirements of the MARS rule since it was not drafted with a real estate sales transaction in mind.
Shop Realtor®
Pre-Appointment
For Realtors®, each day presents an opportunity to cultivate client relationships. For new Realtors®, what’s that first step? Experienced Realtors® have likely developed successful strategies yet may not be familiar with the latest tools and industry practices that could propel them to greater levels of production. The Shop Realtor® concept offers pre-appointment solutions for every stage of a Realtor’s® career.
Before that first appointment, Shop Realtor® provides tools to help members prepare for a client meeting. Whether it’s a national property database, multiple listing service, marketplace statistics, a network of finance professionals, or presentation resources, Realtors® have access to facts, figures and connections that will make them the trusted local expert.
