A bill requested by Attorney General Rob McKenna that would protect Washington consumers is scheduled for public hearings. The bill seeks to protect Washington residents from mortgage foreclosure scams.
Last year the Legislature passed a law that governs transactions between purchasers and homeowners whose homes are in foreclosure or in danger of foreclosure. The proposed bill, requested by the Attorney General’s Office, Department of Licensing and Department of Financial Institutions, seeks to exempt licensed real estate agents from the definition of a “distressed home consultant” and provides a safe harbor for those purchasing a distressed home outright within 20 days of the foreclosure sale.
The House Judiciary Committee has scheduled a public hearing concerning HB 1132 at 1:30 p.m. Monday, Jan. 19, in the John L. O’Brien building, House Hearing Room A.