Santa Monica Real Estate - Shorter Short Sales?
By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
I found this article very exiting since I have been enduring a couple of short sales that are now on year number two!! :) NAR Hails Bill to Hasten Lender Response to Short Sale Requests September 16, 2010 WASHINGTON (September 16, 2010) – Homeowners who are underwater with their mortgage may find that relief is on the way from a bill strongly supported by the National Association of Realtors® that would impose a deadline on lenders to respond to short-sale requests.The legislation, H.R. 6133, “Prompt Decision for Qualification of Short Sale Act of 2010,” was offered yesterday in Congress by U.S. Reps. Robert Andrews (D-N.J.) and Tom Rooney (R-Fla.). The bill would require lenders to respond to consumer short-sale requests within 45 days.“The short sale, which requires lender approval, i...
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