Michigan's Foreclosure Prevention and Responsive Initiative Introduced

May 8, 2009

Source: Frank Mortl, III
Job Title: Chief Executive Officer
Phone: (269) 382-1597
Email: FrankM@gkar.com

The Greater Kalamazoo Association of REALTORS® (GKAR) announced today an effort by REALTOR® Association Executives from across the state to produce Michigan's Foreclosure Prevention and Response Initiative (MFPRI). With the continued economic downturn and mortgage foreclosure crisis expanding nationwide, the National Association of REALTORS® (NAR) has allocated funding for state and local organizations designed to assist home buyers and home sellers navigate the complex foreclosure process.

The MFPRI project will interact with state agencies, the banking community, GKAR, the Michigan Association of REALTORS® (MAR), NAR, and other real estate professionals to develop information pieces, training materials, counseling, and other vehicles to provide high quality products. The deliverables will include:

  • A training kit designed to assist local REALTOR® Associations in reaching their broker community with valuable tools and resources in an effort to educate on housing options, foreclosures and short sales. Components in the kit include a foreclosure and short sale video, agent and broker talking points, a Frequently Asked Questions sheet, and a virtual booklet.
  • Multiple Foreclosure/Housing Resources Public Forums in the southwest Michigan area which will focus on working with the Michigan State Housing Development Authority (MSHDA). Loan partners and local legislators are expected to participate in these worthwhile Public Forums.
  • Public Service Announcements regarding REALTOR® and public awareness. MSHDA plans on distributing 18,000 Save the Dream brochures and MAR will have valuable information on their website www.mirealtor.com.

GKAR encourages anyone interested in the purchase of a home to contact a local greater Kalamazoo REALTOR® for more information on homebuying opportunities and the advantages available to both new and trade-up buyers. For more information on the many reasons to consider the purchase of a home in the greater Kalamazoo area, visit gkar.com or contact the GKAR office at 269.382.1597.

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