Tuesday, October 12th, 2010
To: All REALTORS®
From: Vicki Cox Golder, 2010 NAR President
Date: October 12, 2010
Re: NAR Update: Foreclosures and Bank Meetings
Dear fellow REALTOR®,
Recently, there have been widespread reports of problems related to foreclosures. NAR has sent a letter to regulators expressing our concerns. We also have posted articles and talking points to help you answer questions from consumers and the media. Please visit Realtor.org/foreclosure for the latest developments and additional information.
On a separate note, the NAR Leadership Team has held several meetings during the past two months with the heads of major national banks to discuss problems with short sales and the availability of credit to potential buyers. Our position has always been that we want to help homeowners avoid foreclosure, whenever possible.
Below is a summary of the issues we have asked lenders to address. We also have posted a detailed report for your review on Realtor.org.
Although we feel the banks have made some progress, it is clear that much still needs to be done. We will be meeting with Chase later this month, and those discussions will focus on the problems with foreclosures and short sales. You can help our efforts by sharing your experiences with NAR via e-mail at HAFA@realtors.org.
We thank you for your continued work on behalf of homebuyers and homeowners, and we look forward to seeing all of you in New Orleans this November.
Continue reading: NAR Update: Foreclosures and Bank Meetings
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