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Foreclosure Fairness Act of 2011

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If you’re in danger of losing your home to eminent foreclosure, Governor Gregoire just signed into law the above foreclosure act in the hopes of helping distressed homeowners keep their homes. The new law provides an opportunity for the homeowner to meet with their lender in mediation to discuss options and possible ways to prevent the foreclosure.

Foreclosures are often a lose-lose situation, and while our government has tried unsuccessfully in the past to help homeowners (HAMP comes to mind), I applaud the efforts.  Only time will tell how successful this new law ends up being.

You can read about the new law HERE.

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