New FTC Rules for Short Sales


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New FTC Rules for Short Sales

The Federal Trade Commission ("FTC") has issued a final rule that may impact real estate professionals who represent clients involved in a short sale transaction. Depending on certain factors, the rules may require real estate professionals to make certain disclosures to consumers if they negotiate a short sale with a lender, advertise short sales experience, or take upfront fees from short sale sellers. The MARS rules took full effect on January 31, 2011- click here to view the MARS rule. . . . (to read the remainder of this article, please log in below.)

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