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SB 900 would establish the health insurance "exchange" required under federal law. A very important part of this bill affects the way lenders, normally the banks, deal with sale offers. Proceeding to the new laws, banks were under no deadlines to answer these types of offers. The new law requires that lenders answer the offers within 21 days. So now, if a buyer makes an offer on a home that has already been approved for an underwater sale, the bank must accept the offer or refuse the offer within three weeks. Thanks to this law the process the real estate transaction is more likely to close. This Senate bill 900 is helping clarifies and creates the rules and regulations for short sales in that state. A very important part of this bill affects the way lenders, normally the banks, deal with sale offers. Proceeding to the new laws, banks were under no deadlines to answer these types of offers. The new law requires that lenders answer the offers within 21 days. So now, if a buyer makes an offer on a home that has already been approved for an underwater sale, the bank must accept the offer or refuse the offer within three weeks. Thanks to this law the process the real estate transaction is more likely to close. It was created to protect consumers from loan modification “cozener " who charge distressed homeowners upfront fees and deliver naught in return and it helps to keep your home California, but it was printed without the advantage of accurate data on the contribution being made by the legitimate loan modification industry in California. Offering a higher tax credit for small rehabilitation projects could draw investors, compelling them to take a little more risk in exchange for a smaller tax bill at the end of the year. According to the provision stated in SB, borrowers can approach their lenders directly for mortgage restructuring assistance and that paying an intermediary or a "third party" to arrange the mortgage process is not anymore a necessity. There are many other regulations and rules that are a part of these Programs, but this is as easy as I can explain them.

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