The legislation, also known as the Prompt Notification of Short Sale Act, will require a written response from a lender no later than 75 days after receipt of the written request from the buyer. The lender’s response to the buyer must specify acceptance, rejection, a counter offer, need for extension, and an estimation for when a decision will be reached. The servicer will be limited to one extension of no more than 21 days. The bill will also… Read the rest of this article by DSNews.com here: ““.Tags: acceptance, act, approval, approve, attorney fees, banks, bill, bills, buyers, CEO, Congress, counter offers, DSNews.com, Equi-Trax, extension, federal government, foreclosures, Guy Taylor, Home Ownership Satisfaction Survey, HomeGain, homeowner, homeownership, homes, house, houses, housing, housing markets, legislation, lenders, listings, lose home, losing home, Moe Veissi, mortgage, NAR, National Association of Realtors, neighborhoods, owners, process, Prompt Notification of Short Sale Act, properties, property, proposed bills, purchase, real estate, real estate markets, Realtors, rejection, Robert Andrews, sale, Senator Lisa Murkowski, Senator Scott Brown, Senator Sherrod Brown, senators, servicers, Short Sale New England, short sale proceess, short sales, survey, Tom Rooney, transactions, underwater owners, unpaid balance, valuesLeave a Reply Cancel replyYour email is never published nor shared.Name (Required) Email (Required) WebsiteYou may use these HTML tags and attributes:
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