NAR last week expressed its concerns with a new FHA proposal to restrict real estate agents in certain pre-foreclosure transactions. In a letter sent to the Assistant Secretary on Housing on September 18, NAR President Gary Thomas argued that there are other ways that HUD could address concerns about meeting minimum net sales proceeds requirements.
Restricting real estate agents from working on certain pre-foreclosure sales puts homeowners at greater risk of falling into foreclosure if they cannot find a real estate agent, especially one who is knowledgeable about the short sale process, to list their homes.
Click here for the full text of NAR's letter.
