A bill addressing short sales could help prevent declining home values and declining personal wealth Reply

A new bill has been submitted that will require lenders to respond to short sale requests in a timely manner.

Short sales are when a homeowner sells a property for less than what is owed to the bank.  I have handled a few short sales and they are not fun.   I even had a situation where the bank took so long to respond that the buyer walked away from the transaction.   The bank then sold the property for less than the offer that was being considered, much to my chagrin. More…