AG settlement starts the clock on short sales

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Its board includes Idaho Attorney General Lawrence Wasden (R), its chairman. The document did not reveal that the settlement fell far short of the loss. When first approached by The Post, Legacy.

Short-Term or Long-Term Capital Gain or Loss As a general rule, you determine whether you have short-term or long-term capital gain or loss on a short sale by the amount of time you actually hold the property eventually delivered to the lender to close the short sale.

The Ins and Outs of Purchasing a Short Sale Property Remember short sale property purchases are not for the faint of heart. It can take an extended period of time to get a response from a bank.

Its timeline matches the AG settlement. According to HAFA guidelines, a servicer must consider a borrower for HAFA within 30 days of the borrower either failing a Home Affordable Modification Program test or requesting consideration for a short sale. Chase said it completes short sales – from receiving full documentation to approval – in a little more than one month. But under the settlement, there is some enforcement to the guidelines.

Bankruptcy, Foreclosure & Short-Sale Guidelines. As a Senior Loan Officer, I think the biggest challenge in today’s economic and mortgage lending environment has to do with the amount of people that have had a bankruptcy, foreclosure, or short-sale; and sometimes all of the above.

Settlement starts the clock on short sales Mortgage servicers will be kept to strict short sale timelines agreed to under the state Attorneys General foreclosure settlement this week. Along with the penalties and relief for borrowers, the five largest mortgage servicers must adhere to a set of new standards.

Survey Finds Short Sales Outnumber REO in January Purchases Buying a short-sale house: A guide to the process. Buying a home through a short sale is different from buying a property at a foreclosure auction, or one that is. AG settlement starts the clock on short sales; Head of Citigroup.

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