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Committee approves expansion of foreclosure-mediation program funded by an $80 transaction fee proposal
Summary
The Appropriations Committee reported Engrossed Second Substitute Senate Bill 5686 out of committee, 19-12. Sponsors said the bill extends foreclosure-mediation protections to condominium-assessment foreclosures and would add an $80 fee on real-estate transactions to fund the program; opponents called the fee a hidden tax.
The Washington House Appropriations Committee on Oct. 12 voted 19-12 to report Engrossed Second Substitute Senate Bill 5686 out of committee with a due-pass recommendation.
Supporters described the bill as an expansion of the state's successful foreclosure-mediation program, which currently funds services through a $250 lender fee charged when a foreclosure is filed. "This gives…
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