NAR Supports New Bill to Improve the Process for Short Sale Request Responses

On Wednesday, the National Association of Realtors® announced their support of a new bill introduced into legislation that would speed up the lender review process for short sale requests by imposing a 45 day deadline.  NAR President Ron Phipps stated, “As the leading advocate for home ownership and housing issues, Realtors® want to help more home owners avoid foreclosure by facilitating a short sale when a family is absolutely unable to keep their home; however, that can only happen if lenders and servicers approve short sale offers in a reasonable amount of time.”

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