From the Director: Grant to Help in Foreclosure Prevention

Summary

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The Santa Fe Association of Realtors recently announced a grant totaling $30,000 made available through the National Association of Realtors Foreclosure Prevention and Response program. The funds will be used to host a discounted "Short Sales and Foreclosure" course for Realtors in February; launch a public-education radio campaign in both Spanish and English to help homeowners access vital information on how to avoid foreclosure; and purchase marketing materials for dissemination to the public on foreclosure prevention.

Association leadership believes that the grant funds will provide Santa Fe homeowners with an opportunity to get critical information on how to avoid foreclosure and will better educate Realtors on these types of transactions. There are tools available to homeowners to help them modify their loans or sell their homes before foreclosure is imminent to protect their credit. As part of the recently updated federal Home Affordable Modification Program (HAMP), financial incentives will soon be provided to servicers and borrowers who utilize a short sale or a deed-in-lieu (DIL) to avoid foreclosure on a HAMP-eligible loan. Foreclosure alternatives along with timing and eligibility information will be added to the association's website as part of the grant program.

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From the Director: Grant to Help in Foreclosure Prevention

More consumer-focused tips are available at http:// makinghomeaffordable.gov. There is information for h...

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