Read the fine print! Although the FTC has agreed to forbear enforcing some provisions of MARS against REALTORS, this doesn’t mean that real estate agents are completely off the hook. What it does mean is that some of the more onerous and ridiculous record-keeping and disclosures requirements will not be pursued as violations…that is unless [...]
Does the FTC’s Rule on Mortgage Assistance Relief Services aptly called “MARS” apply to REALTORS?
February 15, 2011 By 3 Comments
The quick answer is yes, REALTORS® as well as anyone else is involved in short sales or other “pre-foreclosure” activities are subject to the MARS Rule. Although the FTC’s MARS Rule took effect on January 31, 2011, most real estate brokers have little or no knowledge regarding the impact on their practice. Why hasn’t someone [...]
FTC’s Mortgage Assistance Relief Services (MARS) – No upfront fees & more
February 15, 2011 By 1 Comment
Homeowners take note! Stop sending your hard earned money to those out-of-state, pretender lawyers or loan mod gurus that claim to get you a loan modification or short sale. Not only are most of these companies scams but now most of them are in violation of the Federal Trade Commission’s (FTC) new Mortgage Assistance Relief [...]
Robo-signers: Apply here – No experience necessary
October 13, 2010 By 2 Comments
Can’t you just see the ads? Anyone can now be a foreclosure expert! No experience, license or training required. Yes, you can make money at home (or in an office) with a full time job working for a bank!! Only requirements for this job are sight and upper limbs, so you can see where to [...]
WARNING: You may be sued by your seller!!!
April 12, 2010 By 2 Comments
This is not a joke. Realtors who think they are now “Short Sale Specialist” or “Loan Modification Specialist” are running a huge risk by trying to navigate in dangerous water and practicing in areas for which they lack training and more importantly don’t have a license. If you are taking short-sale listings, you’d better darn [...]
Ask the question. Do you have a cash out refi?? You do? Great!!!
November 18, 2009 By Leave a Comment
If you’re a REALTOR helping a seller whose is facing a foreclosure situation in Texas AND they have a home equity loan or cash out refinance you can leverage the Texas Constitution to buy you time. But you need to takes steps immediately when the seller receives the customary “You Have Been Sued” letters. But [...]
