State Representatives Kevin Van De Wege and Steve Tharinger (both D – Sequim), along with Senator Jim Hargrove (D – Hoquiam), met with a group of real estate professionals from Clallam County on January 20 in Olympia.
The legislators provided the group with a historical perspective on the up and down cycles of the state’s budget, and discussed current legislation affecting real estate, housing, and small business.
One House proposal, HB 1362, would help homeowners avoid foreclosure. The bill would establish a multi-pronged approach to finding alternatives to foreclosure, counseling for struggling homeowners, and a consumer protection remedy when lenders don’t properly follow foreclosure procedures. The bill is modeled after a Nevada law that created the Foreclosure Mediation Program, in which the bank or other lender is required to make a “good faith” effort, through mediation, to work on a new loan agreement with the borrower. So far the outcome in Nevada has been good, as almost half of that program’s participants are keeping their homes and avoiding foreclosure.
In this photo, the three lawmakers are joined by Mike McAleer, State Director of the Sequim Association of Realtors.