The Federal Trade Commission (FTC) has announced that they will NOT enforce a majority of the provisions of the Mortgage Assistance Relief Services (MARS) rule against real estate licensees.

Real estate licensees that are affected by the stay are defined by the FTC as: those who are licensed and in good standing under the state licensing requirements, those who comply with state laws governing the practices of real estate professionals and those who assist or are attempting to assist consumers in obtaining short sales in an effort to secure the sale of their homes.

The National Association of Realtors (NAR) is pleased with this announcement and even calls it a substantial victory for Realtors, as the organization has been working with the FTC for months now to minimize the potential impact on real estate professionals who are helping struggling homeowners obtain short sales.

For more information please visit the FTC website.