BrokerageIndustry News

New Washington law targets foreclosure scams

Agents, investors brace for new duties
Published on May 23, 2008

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by CareyBot

Real estate agents and investors in Washington state are preparing for law changes next month that will place additional responsibilities on those who work with distressed property sales.

The legislation, House Bill 2791, is intended to protect consumers from foreclosure rescue scams in which sellers are tricked into transferring ownership of their homes by those offering to save them from the prospect of foreclosure.