A bill, introduced in the U.S. House yesterday and strongly supported by the National Association of Realtors^®, would impose a deadline of 45 days on lenders to respond to short sale request. The legislation, the “Prompt Decision for Qualification for Short Sale Act of 2011,” was offered in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.). The NAR has been actively pushing the lending industry to improve the process for approving short sales, which represent about 13 percent of recent home sales according to NAR data. Phipps praised Reps. Rooney and Andrews for their efforts on the bill and urged Congress to pass the bill quickly, or respond in less than 45 days :) . We will see where this bill ends up, it's clearly a benefit to the barrow and the over all nature of the housing market however it seems that lender lobbyist have been pushing back with rule exception of their own