New Short Sale Guidelines Effective April 1st
Help is on the way for homeowners who are faced currently with foreclosure. The new regulations regarding short sales will go into effect April 1st and there changes will allow sellers a much more effective process to deal with on a go forward basis. Some of the changes include:
*Lender must supply as yes or no answer within 10 days
*Cash incentives will be offered to loan servicers –
Up to $3000 for 2nd lien holders
*Standardized forms, procedures, and guidelines
*Borrowers will be released of all debt liability
*Lender cannot renegotiate the real estate commission once established.
Please go to www.tombrewerjr.com for more information on why short sales are a more beneficial way of selling your home instead of foreclosure.
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