Congresswoman Susan Davis Introduces Bill to Help Homeowners Avoid Foreclosure

Washington, DC – October 13, 2011 – (RealEstateRama) — As homeowners in San Diego and across the nation continue to tangle with banks, Congresswoman Susan Davis (D-San Diego) introduced legislation to give people another tool to avoid foreclosure and the subsequent damage to the their credit rating. The Short Sale Transparency Act will require Fannie Mae and Freddie Mac to disclose the minimum asking price they are willing to accept for a short sale if the first offer is rejected.