There’s good news for homeowners in Washington—and for everyone else who may be concerned about home ownership and foreclosure issues: The Foreclosure Fairness Act of 2011 that I co-sponsored and helped to draft is already bearing fruit in the form of a new web site.
I was happy to help write the mediation portions of the Foreclosure Fairness Act. Literally tens of thousands of Washington homeowners have been driven into or toward foreclosure because of the deep slump in the economy, and many families felt they had no options or advice to help them. Now they do.
Our new law will help by connecting people with counselors and attorneys who work with families who are facing possible foreclosure. It also includes the new mediation process I mentioned, where an independent mediator works with homeowners and financial institutions to explore every possible option for reaching the best outcome given the specific situation.
Even though the Foreclosure Fairness Act won’t officially take effect until July 22, Washington State’s new Foreclosure Mediation Webpage is already up and running at the Department of Commerce web site. The url: https://www.commerce.wa.gov/site/1367/default.aspx
The new web page features a wealth of information for homeowners who are worried about foreclosure issues, including:
- Contact information for counseling and service providers.
- Advice on what to do if you are falling behind on your house payments.
- Common alternatives to foreclosure, and pointers to where people can find legal or other foreclosure assistance in Washington.
- Helpful tips for avoiding foreclosure scams and financial predators.
The web site also includes information for financial institutions and will soon include a section dedicated to helping prospective mediators, counselors and attorneys.
People who need now can also find a counselor through Washington State’s foreclosure prevention hotline: 1-877-894-HOME (1-877-894-4663).
I’d like to salute Rep. Tina Orwall, who worked tirelessly to create and pass a law that will help families who are struggling with foreclosure. It was a pleasure to work with her on one of the most important new laws of 2011.
Few things are more painful to families or neighborhoods than losing homes to foreclosure. Those who face foreclosure in Washington clearly needed more help and options. They will now have them, and that is very good news for our families, neighborhoods and state.