SOURCE: National Association of Realtors

National Association of Realtors

October 01, 2010 11:33 ET

New Short Sale Course Gives Realtors® Additional Guidance on Federal Programs

WASHINGTON, DC--(Marketwire - October 1, 2010) -  While home buyers and sellers continue to be discouraged and frustrated by the complex and lengthy short sale process, the National Association of Realtors® is making sure Realtors® have the resources and tools they need to help consumers navigate these transactions. As part of that effort, NAR has just launched the HAFA (Home Affordable Foreclosure Alternatives) Short Sales course.

The one-day course gives Realtors® in-depth information about U.S. Treasury, Fannie Mae and Freddie Mac initiatives to help streamline short sales and help more homeowners avoid foreclosure. The course also explains the similarities and differences among all the short sale programs available to consumers.

"The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could save a homeowner from foreclosure," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "As the best source for real estate information, NAR provides Realtors® with the tools they need to help consumers process short sales more efficiently. We believe this new course will do just that."

NAR is also supporting a bill, "The Prompt Decision for Qualification of Short Sale Act of 2010," H.R. 6133, that requires mortgage servicers to decide on a buyer short sale request within 45 days. The bill is sponsored by U.S. Reps. Robert Andrews (D-N.J.) and Tom Rooney (R-Fla.).

"While the lending community has worked to improve the size and training of their short sales staffs, they still have a long way to go on improving response times," says Golder. "NAR supports making short sales subject to a uniform process where short sale offers are approved at reasonable times, which ultimately allows homeowners to avoid foreclosure."

Realtors® can find local offerings of the HAFA Short Sales course at www.CourseCalendar.com, and the course will also be offered at NAR's Conference & Expo in New Orleans in November. NAR members have access to online resources and guidelines pertaining to HAFA and the short sale transaction at www.realtor.org/shortsales.

In addition, Realtors® can earn NAR's Short Sales and Foreclosure Resource (SFR) Certification, which was launched in October 2009. Realtors® who have earned the SFR Certification have advanced training in managing the complexities of transactions that involve foreclosed homes and short sales. Over 51,000 Realtors® have earned the SFR Certification, and it is the fastest growing NAR certification or designation.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. News releases are posted in the Web site's "News Media" section in the NAR Media Center.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

Contact Information

  • For further information contact:
    Leanne Jernigan
    202/383-1290
    Email Contact