What’s the Next Big Solution for Housing?

As expected, the countdown to the final closing days of the homebuyer tax credit has brought on more debate. Should the government create more programs aimed at boosting home sales or just stay out of it and let the market correct itself? Gino Blefari, CEO of Intero Real Estate, weighs in on this topic. Read his full article here.

REO News Reports on Bill that sets 45-day deadline on lender short sale decisions

REO Insider, Insight for the REO Professional published the following article today:

Real estate brokers who have long complained about the time it takes to complete a short sale now have two U.S. congressmen in their corner who are sponsoring a bill that would require lenders to respond to consumer short sale requests within 45 days.

Real estate brokers — and homeowners – have long complained about the length of time it takes to get a short sale done....

...“The short sale, which requires lender approval, is an important instrument for homeowners who owe more than their home is worth,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said in a news release. “While the lending community has worked to improve the size and training of their short sales staffs, they still have a long way to go on improving response times.”

Read the rest of the story here.