Is the Treasury Department issuing new guidelines to speed up the short sale process?
Yes and no. The Treasury Department has outlined some guidelines, and they maintain that they will go into effect on April 10. In fact, there are some major changes that should help both sellers and buyers: • Banks have 10 days to respond to offers • Sellers receive $1,500 in relocation costs • Investors owning the mortgages get $1,000 • Second-lien holders receive up to $3,000 • Banks and sellers use uniform documentation If you have other short sale questions, leave them in the comment section below or email them to 10news@10connects.com.
