Community Service Announcement: Funding for Foreclosure Training

Home Ownership Matters is pleased to be able to tell you that NAR (National Association of REALTORS) announced on March 1, 2009 a grant of $3 million dollars which is to be used for foreclosure training by state and local real estate boards around the country.

As part of their “RIGHT TOOLS—RIGHT NOW” initiative, NAR has made the funds available by launching the Foreclosure Prevention and Response Program (FRP). Unlike many government programs which are complicated, with unclear guidelines and take months to implement, this initiative could easily be dubbed as the real estate professionals “giving back”. The funds can be used for either professional training and/or community outreach programs and it is very likely that the bulk of the funds will be utilized for training for agents who need to better understand the changes associated with helping a consumer who is either already in default or expects to be in default.

Personally, I’d vote any day for someone to help my agent afford the training they need to better understand my situation. Since REALTORS are self-employed many of them are struggling right along with other segments of the community, and would have difficulty paying for the specialized training which these funds will make possible.

Comprehensive training on how to manage a short sale is rather expensive, but is now attainable as a result of this program. If you need to sell a home and it is "upside down" would you rather have a well-trained "short sale specialist" or someone who has taken a 4 hour class on what to do?

The application process is easy (2 short pages) and while it requires coordination between your local board and the state board, it should not be difficult to have quality foreclosure training approved and scheduled within the next 6 weeks. The entire $3 million is set aside to be used by the end of 2010. For more information, log onto NAR for details.

(NAR) offering you the "RIGHT TOOLS—RIGHT NOW"

How is that for stepping up to the plate?

(Please E-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have! We appreciate all comments and feedback, so please don't be shy.)