The Washington State Foreclosure Fairness Act was implemented on July 22, 2011 and offers homeowners who have received a notice of default from their lender the opportunity to request mediation with their lender. The lender is required to provide a decision making employee to meet with the homeowner. The homeowner is welcome to bring their attorney or a Housing Counselor to the meeting. Housing Counselors are a free resource to homeowners. It is important for homeowners to know their rights in the situation and explore all options, whether that is a loan modification to stay in the home, deed in lieu of foreclosure or short sale.
Click here for the full article regarding the Washington State Foreclosure Fairness Act from the Department of Commerce.
Click here for the Washington Foreclosure Prevention Resource.
