Archive for September, 2010

New bill requiring lenders to “hurry up” their short sale approvals introduced in congress

Representatives Robert Andrews (D-NJ) and Thomas Rooney (R-FL) have introduced H.R. 6133; a bill that would require lenders and servicers to speed up the short sale approval process.  On September 15, H.R. 6133 was referred to the House Committee on Financial Services, but we have the feeling it will not get any play until after the break…if at all…

Our feeling is that this program, if put into law, will go about as smoothly as: HASP, HAFA, PIP, EESA, TARP, HAP, HARP, ARRA, FSP, HFST, HAMP, TSLF, MHAP, PDCF, AMLF, CPFF and HforH, because government is just plan not able to fix this problems.  We continue to assert that it is only the real estate population as a whole who is going to fix the challenges we face.  Would we like to speed up the short sale process, absolutely.  What do you think?  We’ll be over her NOT holding our breath.

For more information on the bill and to follow it through the process, direct your browser to http://www.opencongress.org/bill/111-h6133/show .

For more insight and opinion on H.R. 6133, direct your browser to the following:

http://nationalmortgageprofessional.com/news20526/new-legislation-introduced-quicken-short-sale-time-frame

http://manufactured-home-loans.com/blog/?p=8607

http://rapidrealestatesolutions.wordpress.com/2010/09/22/nar-supports-bill-in-congress-proposing-short-sale-speed-up%E2%80%A6when-will-everyone-learn/

Our feeling is that this program, if put into law, will go about as smoothly as: HASP, HAFA, PIP, EESA, TARP, HAP, HARP, ARRA, FSP, HFST, HAMP, TSLF, MHAP, PDCF, AMLF, CPFF and HforH, because government is just plan not able to fix this problems.  We continue to assert that it is only the real estate population as a whole who is going to fix the challenges we face.  Would we like to speed up the short sale process, absolutely.  What do you think?  We’ll be over her NOT holding our breath.

Trent from CSSP

trent.whatcott@cwyholdings.com

Wednesday, September 22nd, 2010 Latest News No Comments