Redding's Ups and Downs

According to the National Association of Realtors, a bill, introduced in the U.S. House this week, would impose a deadline of 45 days on lenders to respond to short sale requests.

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,” said NAR President Ron Phipps. “Streamlining short sales transactions will reduce the amount of time it takes to sell the property, improve the likelihood that the transaction will close and reduce the overall number of foreclosures. This benefits sellers, lenders, buyers and the entire community.”