REALTORS® Exempt from New Short Sales Rule
NAR has made an important step in resolving the confusion caused by the Federal Trade Commission's (FTC) Mortgage Assistance Relief Services Rule (MARS) among real estate professionals who provide assistance to struggling homeowners in negotiating short sales with servicers on the sale of the home. On July 15, 2011, The FTC announced that it will forbear from enforcing most provisions of its MARS Rule against real estate professionals who assist consumers in obtaining short sales from their lenders or servicers.
Get full details on the FTC announcement and the MARS rules here