RETA – New Hampshire REALTOR Escrow Trust Account

In 2007, the New Hampshire Association of REALTORS is re-launched the REALTOR Escrow Trust Account, or RETA. NH Realtor Escrow Trust Account

RETA was established in 1997 to raise money for The New Hampshire Community Loan Fund, a non-profit New Hampshire organization which provides loans and assistance to low-income residents of New Hampshire. Since its inception, it has made over $50 million in loans assisting those who need it the most.NH Loan Fund Home of Your Own

RETA works very simply. As a home buyer, your Earnest Money Deposit, as well as any additional deposit, is deposited into a special RETA Trust Account at a participating bank. Any interest earned on those funds goes directly into the RETA Fund, rather than staying with the bank!

For the re-launch in 2007, all funds are now earmarked for the NH Loan Fund’s Home of Your Own program (HOYO). Home of Your Own assists New Hampshire residents with developmental disabilities and NH residents with a family member with developmental disabilities purchase or build a home.

As New Hampshire REALTORs we are very lucky to be able to offer this unique program to our buyers. It’s not often that one is able to give to others without lifting a finger or writing a check! To date, the REALTOR Escrow Trust Account has raised nearly $125,000 for The Loan Fund!

The NH Association of REALTOR’s 2007 goal is to raise $30,000 for those in need. Only about 4% of NH Real Estate agencies currently offer RETA to their buyers. If RETA was applied to all real estate transaction in NH, it is estimated that $200,000 could be raised to help those in need.

During your next transaction, be sure to ask your NH REALTOR about RETA. If they do not participate, encourage them to do so!

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