S 2120
112th Congress
Senate
Housing and Community Development
Civil actions and liability
Housing finance and home ownership
Prompt Notification of Short Sales Act
Introduced: February 16, 2012
Introduced by:
Murkowski, Lisa
Republican
· Alaska
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 2012
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 16, 2012
Introduced in Senate
Plain-English summary
Prompt Notification of Short Sales Act - Requires each servicer of a home mortgage to respond in writing within 75 days to a mortgagor of a residential mortgage loan who has requested in writing a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.
Authorizes an aggrieved individual to bring a civil action for damages and equitable relief for any violation of this Act.
Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1
Cosponsors
1