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News for Real Estate Investors and Landlords — new law

Short Sales Legislation: Easter Bunny Stuff

Posted by 15789465 on

(Click HERE to view video instead of reading this post.) On April 12, 2011 a bill regarding short sales was introduced into the House of Representatives. H.R. 1498, "Prompt Decision for Qualification of Short Sale Act of 2011", was submitted by Representatives Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.) The proposed law sounds good. It would require lenders and servicing companies to approve or deny a short sale request within 45 days.  It all sounds so wonderful, just like an Easter Bunny who brings you presents and candy and makes life wonderful for awhile. The problem with the proposed law...

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