Controversy Over New Washington Law Regulating Foreclosure Rescue Deals Has State AG, Lawmaker Pointing Fingers

In Seattle, Washington, Seattle Weekly reports:

• Since the [Washington State] Distressed Property Law took effect on June 12, it has facilitated zero lawsuits but much finger-pointing. The law, designed to quash nefarious foreclosure-rescue schemes, has realtors uncomfortable because, they say, it burdens them with undue liability. Meanwhile, Attorney General Rob McKenna, who once declared ownership of the bill, now disavows it, instead siding with the realtors (see "Home Flipper," SW, July 23).

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• [Sen. Brian Weinstein (D-Mercer Island), one of the bill's sponsors] claims the attorney general's office was involved in every phase of crafting the final law.

For more, see McKenna Called Out on Controversial Foreclosure Bill (The attorney general says he wasn’t part of the bill’s changes. Rep. Weinstein begs to differ).

For tutorials and other information on the new law regulating foreclosure rescue transactions in Washington State, see What You Need To Know About Washington State's New Distressed Property Law HB2791 (available online courtesy of the Washington Association of REALTORS®).