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For Immediate Release                    
July 20, 2010
Staff Contact
Melanie Green, Communications Director
Voice (904) 394-9494, ext. 1204
Fax (904) 398-8025

NEFAR President
Carol Hill
Voice (904) 296-1906

NEFAR Now Offers Free Short Sale Seller Advisory
Six-page Advisory created as public service to help sellers make informed decision regarding home sale.

Jacksonville, Fla. - The Northeast Florida Association of Realtors (NEFAR) has created a new, six-page Short Sale Seller Advisory that is available on its Web site at http://www.nefar.com/short-sale-seller-advisory.php / Consumer Resources tab on www.NEFAR.com.  The free Advisory was created as a public service for home sellers or potential sellers, or anyone involved with assisting homeowners facing a possible short sale.

The Advisory offers a comprehensive compilation of information to assist sellers in making an informed decision that best meets their individual situation. Various segments of the Advisory cover predatory short sale "rescue" scams and fraud against sellers, free services for Florida residents including housing counseling, options other than a short sale, information on bankruptcy and foreclosure, credit scoring, and much more.

NEFAR President Carol Hill says, "Over the past couple of years, the number of short sales has grown exponentially. Despite their name, short sales can be extremely lengthy and complicated. Sellers don't always understand the full implications of short sales, including that their credit score can be negatively impacted for future home or other purchases. We felt strongly that we should offer all of the support within our power to anyone considering a short sale."

For a copy of the Short Sale Seller Advisory, click here.

About Short Sales
A short sale is one in which the proceeds of a property sale, along with any funds the homeowner can provide, are less than the amount that the homeowner still owes on the mortgage. Some lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the homeowner cannot make the mortgage payments. The rationale is that the lender can avoid a lengthy and costly foreclosure and the homeowner is able to pay off the loan for less than what is owed.

The Northeast Florida Association of Realtors provides professional development, political advocacy, professional standards administration, communications and media relations, and promotional activities and exchange of information among its members. NEFAR serves as the voice for real estate in northeast Florida; serving the public through efforts to protect private property rights and community affairs programs. NEFAR is Northeast Florida's largest professional association, comprising more than 5,300 members working in all facets of the real estate industry, including residential and commercial sales as well as property management. NEFAR is headquartered in Jacksonville, with satellite Service Centers in Orange Park, Jacksonville Beach, Palatka and World Golf Village.

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