Charleston short sales, how long does it take for a decision
A few years ago a short sale was a classic oxymoron, it was never short in time taking anywhere from 3 to 6 months or longer and rarely resulted in a sale but that's changed lately and many more short sales are now being approved although they still take a lot of time to get done.
And while some banks are now even offering cash incentives to financially strapped borrowers to do a short sale so that they can save money rather than foreclosing, 3 US Senators are stepping into the fray by introducing legislation to speed up the short sale process.
The proposed legislation wants banks to respond within 75 days.
Oh come on, 75 days to make a decision.
Is it really asking too much of a decision maker to take 30 days to say yes, no or maybe.
Photo courtesy of Flickr Creative Commons by Mommy Musings