Share 'Short Sales Get Shorter: New Deadlines to go into Effect'
As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process.
Here are some of the new requirements for servicers under the settlement:
Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request.
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