<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=284525548375587&amp;ev=PageView&amp;noscript=1">

(978) 835-5906

Massachusetts Home Buyer Guide

smaller-dotted-line.png

HUD Prohibits Dual Agency in FHA Short Sales, Then Postpones Decision

Oct 7, 2013 8:42:00 AM

The U.S. Department of Housing and Urban Development (HUD) issued new guidelines in July that prohibited dual agency in Federal Housing Authority (FHA) short sales; however, after pressure from the National Association of Realtors, HUD announced it has postponed the dual agency guidelines, according to an article in Inman News September 26, 2013

The new rules, revealed through a letter to mortgage servicers in July, were suppose to take effect October 1, 2013 and would have prohibited brokers and agents from representing both buyers and sellers in FHA short sales. The National Association of Realtors (NAR) opposed the new guidelines. HUD's new, now postponed, guidelines state, "To meet [Pre-foreclosure Sales] Addendum requirements, brokers and their agents may only represent the buyer or the seller, but not both parties."

more

Topics: Real Estate Misc., National Association of Realtors, Short Sales, Massachusetts Association of Buyer Agents

   

Blog Home

Subscribe to this Blog

Learn the Steps to Buying
a Home in Massachusetts

The Steps to Buying a Home

  

Search Homes For Sale

Search the latest home listings. Sign up for property alerts.

 

Are You Ready to Learn Some Home-buying Tips? 

Schedule

Learn About Buyer Agents

Most Popular Posts