The Voice for Real Estate 19: REO Sales, Open Enrollment

The Voice for Real Estate 19: REO Sales, Open Enrollment

Mar 30, 2015
5:40
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Featured segments:

  • Owner-occupants get first crack at Fannie, Freddie REOs - 0:24
  • Special enrollment can help you avoid 2015 health insurance penalty - 2:34
  • February existing-home sales are up - 3:55

Get more on all the topics covered in this video:

Voice for Real Estate 19: Transcript

REO Sales, Open Enrollment

Stephen Gasque Voice Over: 

A new policy makes it easier to get households into distressed properties
The federal government offers an extras period to get health coverage
And home sales are rising in America
These stories and more on The Voice for Real Estate
Hi, I’m Stephen Gasque with the National Association of Realtors
Last year NAR urged the federal government to make it easier for households to buy
distressed homes owned by Fannie Mae and Freddie Mac, and that’s exactly what
has happened.
Earlier this month, the Federal Housing Finance Agency released a notice directing
lenders not to sell distressed Fannie Mae or Freddie Mac-backed properties to
investors until they do two things first:
1. Make sure no stone is left unturned to keep the delinquent owner in his or
her home before turning the property over to Fannie Mae or Freddie Mac as
part of their real-estate owned, or REO, inventory, and
2. Give owner-occupant buyers a 20-day first-crack at buying the property.
Only after that 20-day period expires can the property be made available to
investors for purchase.
NAR’s Charlie Dawson has more on these changes that are intended to help keep
communities strong by giving households the first chance to buy financially
distressed properties when the owners can no longer stay in them.
[QUOTE]
Changes like this happen because they’re good for markets and because consumers
and NAR’s one million members make their voice heard. To make it even easier for
Realtors’ voices to be hear, you can sign up to get NAR Call for Action alerts through
text massaging using a new Realtor Party Mobile Alerts program. Just go to the
Realtor Action Center to get signed up.
[SWOOSH]
A number of people have gotten a surprise while figuring their 2014 taxes this year:
a line item that assesses a penalty for not having health insurance—even if you paid
a fee last year when you opted not to get coverage. But the federal government is
taking a bite out of the penalty by offering a special enrollment period, until April
15, to sign up for a qualified plan if you don’t have coverage. NAR’s Marcia Salkin has
more.
[QUOTE]
The special enrollment period only applies to states that have a federally facilitated
insurance marketplace. There are 27 of those states. But several states with staterun
marketplaces are also offering a special enrollment period as well.
[SWOOSH]
Sales were up a modest 1.2 percent in February and are at a 4.9-million home sales
pace. Despite the gain, there continues to be one overriding challenge facing the
market, and that’s the lingering shortage of homes available for sale. NAR Chief
Economist Lawrence Yun at a press conference last week explains what’s
happening.
[QUOTE]
And that’s are show for the week of March 30. Real insights from your nation’s
Realtors. You can get details on all of the topics in this video at The Voice for Real
Estate page on Realtor.org. Thank you for joining us and be sue to join us again as
we bring you the latest news on The Voice for Real Estate.

The Voice for Real Estate is NAR's video news series. Every month, host Stephen Gasque shines a spotlight on a range of topics, including legislative, regulatory, and legal updates, as well as recent research findings.
Each week, NAR Leadership and industry experts share tips and updates on the real estate industry during this unprecedented time.
Window to the Law is a monthly video series focusing on a legal topic of interest. Not just for legal professionals, Window to the Law covers topics applicable to legal compliance for real estate professionals, brokerages, and REALTOR® associations.
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