short sale bill introduced in congress: New Short Sale Bill Introduced - 45 Day Approval
- 09/22/10 04:17 AM
This may be good news about the time is takes to get a short sale approved, if the new bill introduced in the U.S. House passes. The legislation would impose a deadline on lenders to respond more quickly to short sale requests, requiring them to have an answer to the borrower within 45 days. The bill is called the Prompt Decision for Qualification of Short Sale Act of 2010 (H.R. 6133), and it is sponsored by Reps. Robert Andrews (D-New Jersey) and Tom Rooney (R-Florida). The bill has bi-partisan sponsorship and support.This may help to force lenders to reduce the extended … (6 comments)
This may be good news about the time is takes to get a short sale approved, if the new bill introduced in the U.S. House passes. The legislation would impose a deadline on lenders to respond more quickly to short sale requests, requiring them to have an answer to the borrower within 45 days. The bill is called the Prompt Decision for Qualification of Short Sale Act of 2010 (H.R. 6133), and it is sponsored by Reps. Robert Andrews (D-New Jersey) and Tom Rooney (R-Florida). The bill has bi-partisan sponsorship and support.This may help to force lenders to reduce the extended … (6 comments)
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