NEW Bill introduced for Short Sales

Real Estate Agent with Market America Realty Network

After reading my Florida Realtors daily e-mail this afternoon  a new bill has been introduced to the US House  if it becomes a law will improve the process for approving short sales, helping distressed owner who cant afford their home and try to avoid getting foreclosed upon.

The bill, supported by the National Assoc of Realtors , will impose a 45 day deadline on lenders to respond to short sale requests.

That would be great considering many short sales end up in months before we even hear a response on an approval, counter offer or rejection. Many buyers are now wanting to stay away from looking at short sales due to the long time restraints on responses.

I sure hope this goes through and gets passed.

Comments (1)

Reba Haas
Team Reba of RE/MAX Metro Eastside - Bellevue, WA
Team Reba, CDPE

I'm with you on wanting to support anything that makes the process go faster and smoother.

Apr 14, 2011 07:44 AM