Short Sales Process Has Been Aided By 45-Day Requirement For Banks To Respond To Short Sale Requests; Sellers Eligible For Up To $3,000 In Aid (Video)

22 08 2011

The short sale system has been simplified by the Obama Administration. The Treasury Department unveiled rules requiring banks to respond to homeowner short sale requests within 45 days. Short sale sellers are also eligible for up to $3,000 in aid to move. By some estimates up to 275,000 foreclosures could be prevented by these efforts.

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Date : August 22, 2011
Tags: Banks, Foreclosures, Obama Administration, Selling Homes, Short Sales
Categories : Bank-Owned, Delinquencies, Economic Statistics, Federal Government, Foreclosures, Housing Market, Mortgage Industry, Purchases, Short Sales, Videos

Nationally Recognized Home Renovation Financing Expert, Educator And Speaker

Skip Schenker is an industry expert in FHA 203(k) lending. He has completed hundreds of 203(k)s as a Loan Officer and published numerous articles on the subject . He authored a 3-hour Dept. of Real Estate Approved Continuing Education Class called "Sell more homes with Renovation Loans". Skip is well-known in the REO industry. His previous experience included being a licensed contractor in 1987; licensed real estate agent since 1992; and a licensed broker since 2008. He also was previously the Vice President of a Construction Lending Department.

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