Foreclosure prevention: NAR awards FAR $97K for program

ORLANDO – July 6, 2009 – The National Association of Realtors® (NAR) awarded more than $682,000 to 25 local and state Realtor® associations through its Foreclosure Prevention and Response grant program, and the Florida Association of Realtors (FAR) received $97,000. The grants help Realtor boards develop and fund local foreclosure prevention programs.

FAR will use the award to plan, coordinate and promote a week that focuses on homeownership statewide.  The program will educate Floridians on federal, state and local loan modification and refinance assistance. FAR will also develop a toolkit for local Realtor associations to use when hosting educational events; conduct statewide foreclosure seminars; and create a new website for consumer foreclosure prevention information.

According to NAR, more than $3 million is available to Realtor associations nationwide through the program created to help Realtors, their clients and their communities resolve the growing foreclosure problem. Funds can be used to give consumers foreclosure prevention information and financial counseling; educate and train Realtors about foreclosure prevention, short sales and auctions; or help Realtors and their associations form partnerships and get more involved in their communities to support local neighborhood stabilization efforts.

“Realtors build communities and, as the leading advocate for homeownership and housing issues, we believe that any family that loses its home to foreclosure is one family too many,” says NAR President Charles McMillan. “Foreclosures affect each community differently, which is why NAR is providing the Foreclosure Prevention and Response grants directly to local and state Realtor associations – so that they can develop unique, coordinated action plans to prevent foreclosures and minimize their adverse effects on the community.”

NAR has encouraged all state and territorial Realtor associations to apply for grants, which are reviewed and awarded on an ongoing basis through 2010; allotted amounts are based on membership levels. For more information about the Foreclosure Prevention and Response grant program, go to www.realtor.org/foreclosure.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

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