The Basics: Foreclosure
In recent years, unprecedented job losses, market fluctuations, and economic uncertainty have caused a spike in the number of home owners in foreclosure or in danger of becoming so. As more home owners have fallen behind on their mortgages, many local markets have been flooded with distressed sale properties—short sales or actual foreclosures. This situation has demanded that REALTORS® develop new skills to respond on behalf of their clients and their communities.
Latest News: Realtors® Partner with National Community Stabilization Trust to Revitalize Neighborhoods Wracked by Foreclosures (Jan. 26)
Did You Know: Record Foreclosures (Feb. 3)
In response to the increase in foreclosures, the National Association of REALTORS® has developed several programs and resources to: help REALTORS® develop the skills required to respond to the challenges of foreclosures and to assist local and state associations in developing local foreclosure prevention and response strategies. Programs and resources include:
- Foreclosure Prevention and Response Grant Program;
- Foreclosure Prevention and Response Tool Kit: Resources for Associations, funding opportunities and available consulting services; and,
- Foreclosure Prevention and Response Tool Kit Resources for REALTORS®, training courses, educational resources, community outreach opportunities, and resources for troubled home owners and buyers.
