Committee hears clarifying changes to $80 foreclosure prevention fee and a study on a homeowner assistance fund
Substitute Senate Bill 5,938 clarifies how the $80 foreclosure prevention fee is collected and administered, expands exemptions (including reverse mortgages to age 60 and chattel loans for manufactured homes), allows financing of the fee, and directs a Department of Commerce study on a Washington homeowner assistance fund due July 1, 2027.
The full story
House staff told the committee that substitute Senate Bill 5,938 would refine the $80 foreclosure prevention fee created last session and create a study on whether part of the fee could support a state homeowner assistance fund.
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