There is an old saying, "the law is for the lawless". Many people in Washington state facing foreclosure will benefit from this new law (especially families where there are children involved and new schools have to be found sometimes) but for those who exploit the system, it puts more sand in the machinery.
Please click on article below defining the new law our governor has just signed:
I am interested in anyone's take on this and what effect positively or negatively it will have.
Yes, more sand in the machinery. But it will help those that need it as well. So I am glad to hear about the new law, even if some take advantage of it.
This new law will just increase the cost for purchasers and lead to more REO properties.
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I think you will see more renters taking advantage of the system and just stop paying their rent and live for free and possible damage the property as they go out. I hope I'm wrong but people being forced out, the time frames really don't matter. (They usually know well in advance of the foreclosure date anyway that they are going to have to move)
I think they should prove that they have been paying rent to an owner that took it and didn't tell him he was in trouble. If not, why reward them? If their lease was up they could be given 30 days notice - where did 60 days come from? Even the owner having 20 days is nuts - they've not paid for a long time, why should they have that long after they lose the home to move? All the more time to tear the home apart once the reality hits. I can't imagine taking a buyer to a foreclosure sale under those curcumstances.
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