Governor signs fix to distressed property law

March 25, 2009

OLYMPIA – Gov. Gregoire today signed into law a fix to last year’s legislation targeting foreclosure scams. Under the existing law, real estate professionals were concerned they could be caught up in lawsuits for simply helping struggling homeowners sell their home.

The proposal, Senate Bill 5221, was introduced by Sen. Rodney Tom in the Senate and Rep. Roger Goodman in the House.

“This bill is about preventing families from going through foreclosure,” said Goodman, D-Kirkland. “Small assurances like this can make a big difference for families struggling with homeownership.”

Licensed real estate professionals are now explicitly exempt from the law targeting foreclosure scammers. The law sought to put requirements on “distressed home consultants” which were in some cases duping homeowners out of the equity they’d earned in their home.

“We need the housing market up-and-running and I’m pleased to see we took action today for families around the state,” Goodman said.

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For more information
State Rep. Roger Goodman, (360) 786-7878
Website and print-quality image: housedemocrats.wa.gov/members/goodman

Staff contact - Andrew Dziedzic, (360) 786-7218