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You cannot negotiate a short sale PERIOD without being compliant with new laws!

Published on February 1, 2011 By Maryann Little VP Mitigation - Short Sales Massachusetts New Hampshire

I’ve spoken to quite a few of the Realtors that refer to us and there are so many that were unaware at how this affected them. Let me preface this blog by stating I’m not a lawyer, but I’ve spoken with 3 independent attorneys in the last month all who have reviewed the MARS FTC ruling and the ONLY EXEMPTIONS are for attorneys (in particular cases) and even attorneys negotiating short sales have to make some changes. I have YET to see New Hampshire or Massachusetts come forward with a public statement OR any assistance with forms. Considering the extremely conservative approach New Hampshire took with their bulletin on the SAFE act, I’m shocked they weren’t on top of the MARS FTC compliance issues. NAR, MAR and NHAR seem to be asleep on this subject.

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