“U.S. Representative Robert Andrews (D-N.J.) and Tom Rooney (R-Fla) offered up new legislation to Congress last week. H.R. 6133, "Prompt Decision forThis is certainly welcome news. It's goal-
Qualification of Short Sale Act of 2010," is an effort from Congress to help keep potential buyers from walking away from short sales, simply because lenders take months to respond to their offers.”
“This legislation aims to "require the lender or servicer of a home mortgage,upon a request by the homeowner for a short sale, to make a prompt decisionThe bill is strongly supported by the National Association of REALTORS. We have to say that it is long overdue.
whether to allow the sale." (Library of Congress) “
“Hopefully, if this bill passes into law, homeowners will find relief from their mortgage woes, and will be able to sell their home without having to be
Read the full article: Realty Times - New Short Sale Bill Submitted to Congress
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