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Real Estate & Property Law

: The Home Equity Theft Reporter

Feds Issue "Guidance" To Speed Up Short Sales, Other Loan Mod Efforts In Effort To Tamp Down Foreclosures

By r morris

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Reuters reports:The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.***Among requirements, mortgage servicers have 10 days to approve or disapprove a request for short sale, and when done the transaction must fully release the borrower from the debt. It

Full post as published by The Home Equity Theft Reporter on December 02, 2009 (boomark / email).

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