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Wednesday, April 28, 2010

New Guidelines for Short Sales

As of April 5th, lenders have new guidelines for the short sale process.  These new guidelines have been put in place in an attempt to speed up the process which can take an average of 4-6 months.  Along with speeding the process, the new guidelines also offer monetary incentives to both the banks and the homeowner. 

While not all the details are included, Reuters wrote a great article that highlights the key points of the policy.

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