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Realtors’ Recommendations To Reduce High REO Inventories

The National Association of Realtors (NAR) has made suggestions to HUD, the Federal Housing Finance Agency, and Treasury that it believes will reduce the number of REO properties held by government agencies. The suggestions included

  • creating an advisory board that will develop new options for selling REO properties
  • increasing consumer and investor lending
  • taking more aggressive steps to modify loans or to quickly approve short sales
  • avoiding bulk sales of REOs whenever possible
  • being careful about large-scale lease-to-own programs

SOURCE: Marketwire.com, 9/15/11

URL: http://www.marketwatch.com/story/increased-lending-short-sales-necessary-to-reduce-high-reo-inventories-say-realtorsr-2011-09-15