The National Association of Realtors is urging lawmakers to quickly approve legislation that will help families in rural areas obtain home loans.

NAR wants the Senate to extend loan commitment authority under the Rural Housing Service program. The program insures loans funded by private lenders which can be used to build or renovate homes or purchase and prepare sites in rural areas.

The House of Representatives approved legislation Tuesday which would provide additional commitment authority through Sept. 30. The present commitment under the program is expected to expire Friday.

"Fast passage is critical to our nation’s rural citizens, and needs immediate congressional attention. The Senate’s failure to act in a timely manner would create a gap in the home buying process and unnecessarily burden poor families in rural areas," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.

"As private mortgage markets have dried up, many rural families will be left out in the cold without these guaranteed loans. Increasing the commitment authority will assist rural families, support local housing markets, create jobs and generate new tax revenues," Golder said.