A new state law proposed by the Washington Attorney General’s Office to help protect financially strapped homeowners from equity skimming and foreclosure rescue scams became effective in Washington on June 12. Last-minute changes by the Legislature revised the definition of a “distressed home” and added the term “distressed homeowner consultant” to the bill (HB 2791). These changes are generating questions among real estate professionals. Our office is working with REALTORS and legislators to address the concerns. In the meantime, we’ve posted a fact sheet in both English and Spanish on our Web site to help agents, sellers and buyers better understand the new legislation.
Posted by Holly Martinez on Mon, 2008-07-07 07:34