Washington State Real Estate Agents Raise Concerns About New Foreclosure Rescue Law

In Everett, Washington, The Herald reports:

• A new law designed to protect homeowners from foreclosure rescue scams has raised confusion and concerns from real estate agents. Some agents are worried [...] about the new law's provisions, which could hold them liable if anything goes wrong in a transaction involving so-called distressed properties. Those include homes either in foreclosure or close to it, or properties on which owners owe back taxes. Because of the new rules and liability for real estate professionals, some agents are shying away from distressed properties. And that makes it harder for those owners to get help.

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• The confusion is understandable, said Kristin Alexander, spokeswoman for the state Attorney General's Office, which originally proposed a law to save consumers from foreclosure scams. [...] "We're certainly aware there are issues with the law," Alexander said, adding that Attorney General Rob McKenna's staff and real estate industry leaders plan to meet this summer to discuss how to fix provisions of the law. The amendments could then be presented to the Legislature early next year.

For more, see Agents leery of anti-scam law (Until glitches in rules and liability provisions are worked out, real estate agents are steering clear of distressed properties).