Short Sales Speed Up!
Short Sales are about to finally speed up! The Treasury department is putting big pressure on mortgage companies to speed up the short sale process. The MAJOR change:
- Answers within 10 days from the bank when a Short Sale offer is submitted
The Short Sale changes can be found here.
This change can't happen soon enough! However, the time line actually starts April 1oth, 2010. Lenders can go ahead and start complying sooner if they choose. They have financial incentives to approve these sales and get them off their books.
Short Sales have been a grueling process for just about everyone involved. Mostly due to the extremely long process it takes to get any information from the lender. This big change will…