Mortgage Assistance Relief Services Rule

Homeowners facing foreclosure are often desperate for a way to hold on to their homes. Some companies claim they can help fight off foreclosure by negotiating new mortgage terms with lenders or servicers. The Federal Trade Commission (FTC), the nation's consumer protection agency, has issued a Rule to curb unfair and deceptive practices associated with mortgage assistance relief services. It's called the Mortgage Assistance Relief Services (MARS) Rule.

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As an Associate Broker and a Licensed Realtor, we always inform our short sale clients of their options and the potential results of the path they take. Short sales are complex, and often times, difficult transaction. You need to know how many short sales your Realtor has EVER closed; if it's less than a handful, that Realtor is probably not the right person for you. Even the best short sale Realtors have lost short sales to foreclosure. If a Realtor tells you that they have closed ALL the short sales they have ever done, I would be wary of them.

If you have any questions about short sales, please don't hesitate to give us a call.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.
Regards,
Michael Hon
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

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