Washington enacted the Foreclosure Fairness Act, allowing homeowners to demand a mediation face to face with their lenders before a foreclosure sale. Attorney General Rob McKenna got power to punish lenders who don't follow it.
Oregon lawmakers actually let protections slide for those facing foreclosure. As of Jan. 2, meetings to simply discuss modifications will no longer be a right. Attorney General John Kroger lacked much enforcement power and won't get any now.
"Clearly the Legislature took a pass on really helping to get Oregon out of this foreclosure crisis," said David Rosenfeld, executive director of the consumer advocacy group OSPIRG. "That's a real shame, given how integral the stability of the housing market is to Oregon's economic recovery."
Read the rest of the article at Oregon Live
No comments:
Post a Comment