Tuesday, June 28, 2011

Orwall gets Housing Hero Award for Foreclosure Mediation bill

The Washington Low Income Housing Alliance recently presented the 2011 Housing hero Award to State Rep. Tina Orwall for her outstanding legislative work to lend homeowners a helping hand in the midst of Washington state’s worst foreclosure crisis.

“It was a great honor to receive this award,” said the Des Moines Democrat. “I am very proud of our work to create a fair process to protect homeowners and keep them in their homes whenever possible. I am grateful to the large group of stakeholders who worked tirelessly to make this happen.”

Orwall’s leadership will bring desperately needed solutions to struggling homeowners in the form of her Foreclosure Fairness Act of 2011, which created the Foreclosure Mediation Program that could benefit the 45,000 families expected to receive foreclosure notices this year.

The new law will bring banks and homeowners to the table to explore alternatives to foreclosure. It will require lenders to notify borrowers prior to foreclosure of the availability of foreclosure counseling and the potential for mediation. Foreclosure counseling will help homeowners understand all of their options and determine the best course of action.

The Foreclosure Mediation Program will begin July 22, 2011. Homeowners who wish to participate in mediation must be referred by a housing counselor or an attorney. For more information please call the hotline: 1-877-894-HOME (1-877-894-4663), or visit the program’s website: http://www.commerce.wa.gov/site/1367/default.aspx

To read this blog post in Spanish, go here.