Archive for February, 2012

Three senators introduced legislation to speed up the short sale process.

Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval. “There are neighborhoods across the country full […]

Few homeowners take advantage of incentive

A pilot program launched by Bank of America in Florida has drawn minimal interest from homeowners seeking short sales.  The program pays up to $20,000 to homeowners who sell distressed properties in a short sale.  However, as of late January, only 60 people have taken advantage of the program.  Bank of America had targeted 20,000 […]