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Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure

Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure 


Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure

02/20/2012  BY: ESTHER CHO  DSNews.com

To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process.

Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval.

“There are neighborhoods across the country full of empty homes and underwater owners that have legitimate offers, but unresponsive banks,” said Murkowski. “What we have here is a failure to communicate. Why don’t we make it easier for Americans trying to participate in the housing market, regardless of whether the answer is ‘yes,’ ‘no’ or ‘maybe?’”

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.  Read More >



 

Featured listing: Renovated Home in

Silver Spring, MD (Washington, DC Suburb)


For Listing Information, click here:

 15811 Radwick Lane Silver Spring, MD 20906

 

 

 

15811 Radwick Lane Silver Spring, MD

15811 Radwick Lane Silver Spring, MD








Click here to see the Virtual Tour for:

 

15811 Radwick Lane

 Silver Spring, MD 20906

 

Property is listed for $434,900

Tax Yr: 2011 Est. Taxes: $4,876

Information is deemed reliable, but not guaranteed.

 

Renovated/Remodeled top to bottom! Home shows like a model! NEW-kitchen w/ granite and stainless appliances, 3 NEW Baths, All NEW doors, Fresh paint, All new fixtures, NEW carpet, Gleaming HW Floors, NEW exterior doors, windows, roof, siding, gutters, downspouts, NEW garage, driveway, deck, HVAC, Electric upgrade, Prof landscaping, 1+ acre lot, 4th BR is buyer's choice.  Close to ICC, Norbeck Road and Georgia Avenue. Owner/Agent  


Within 2 miles of this home:

Northwest Golf Course (MCG's "2011 Golf Course of the Year"), Argyle Country Club, and the Aspen Hill Club ~ Montgomery County’s Finest Private Tennis and Family Fitness Club. 


To search the entire database of homes for sale in real time with photos, descriptions, and community information, visit my website:www.premiermarylandhomes.com

Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert 

Assoc. Broker/Owner "The Congressional Team" RE/MAX

Licensed in MD & Wash DC

8937 Shady Grove Court
Gaithersburg, MD 20877
Cell: 301-742-1172
Office: 240-403-0399 X306

http://www.premiermarylandhomes.com/


Can I help a friend or family member with their Real Estate needs?  You can count on me!

Comment balloon 1 commentRick Reed • February 22 2012 09:01AM
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