sb 306 to the rescue of short sales: SHORT SALES OR LOOONG SALES? - 09/17/09 08:37 AM
Senate Bill 306 was just signed into law by Governor Schwarzenegger whereby lenders will have to streamline their Short Sale process.
The bill requiresllenders & Service Companies operating in California to:
1.  Either Deny or Accept within 4 days (YES, 4 Days!) a Short Sale offer which includes a HUD or it is assumed to be accepted.
2.  When a HUD is not included, they must respond to all Short Sales offers within 21 days.
This is a welcome change by buyers (and their agents) whose frustration is at an all-time high and patience is at an all-time low.
In my personal experience, … (3 comments)

Rudy  Romo, REO Pro Realty (REO PRO REALTY)

Rudy Romo

REO Pro Realty

Santa Rosa, CA

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