Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

New Bill Introduced To Speed The Short Sale Process

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

It may be a case of better than never or of a politician trying to secure some positive press (and future votes) from Central Valley constituents as Congressman Jerry McNerney from Stockton introduced the Fast Help For Homeowners (FHFH) Act, H.R. 6153, to help speed up the short sale process.

The Fast Help For Homeowners Act requires a second mortgage lender of a federally related mortgage loan to review and make a decision on a short sale agreement within 45 days.  If the lender does not make a decision within that time frame, the short sale will be deemed approved on the 46th day.

Although the idea in principle appears solid, many 2nd lien holders issue unreasonable requests for 2nd lien payoffs. Oftentimes money, not time, represents the principle obstacle in a short sale.  Still if this bill passes, it couldn’t hurt the short sale process.

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

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1 Comment

Filed under Banks, California, short sales

One response to “Fast Help For Homeowners (FHFH) Act, H.R. 6153 Introduced To Speed Up Short Sales

  1. Pingback: Foreclosures In Marin County Drop Sharply | Resource Blog

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