New Short Sale Bill ProposedPosted: February 27, 2012
Senator Murkowski introduced a new senate bill aimed at speeding up the short sale process. This bill gives the loan servicer 75 days to reply to a homeowner’s written request, which must include a copy of the contract with the prospective buyer. Homeowners would receive $1,000 each time the lender or servicer fails to respond, along with other “appropriate relief;, according to the requirements of the bill.
According to most loan servicers, the biggest problem with short sales is that the homeowner requests the sale with incomplete or missing paperwork.
Nome Sweet Homes is experienced in facilitating short sales in today’s lending climate. We have closed several short sales and foreclosure sales in Nome, working closely with lenders, buyers, sellers and HUD to ensure timely closing.
Don’t let a pending foreclosure ruin your credit. You no longer need to be late on payments in order to pursue a short sale. Call Melissa today 907-443-7368!