18 March 2018

KingCast and Mortgage Movies Support a Call to Action Against HB 2057 - 2017-18.

For those of you who do not know me, please know that I ran a title company in the '00's. Prior to that and after that I also had extensive experience in zoning and land use working for wireless companies including but not limited to Nextel, Sprint, At&T, T-Mobile, Verizon and American Tower, and I have helped settle many first and second mortgage issues via mediation and private discussions. 

So I have more than a clue about what is right and what is wrong. With as much corruption going on in the banking and mortgage industries we turn to HB 2057 - 2017-18 Concerning services and processes available when residential real property is abandoned or in foreclosure. From Neil Garfield's Living Lies.
Bill Summary

Amendments

Governor Inslee has not signed this bill yet! 

Please contact his office to send a message that he should NOT sign this bill into law in its current form. The bank and foreclosure industry lobbyists had some of their legislator friends make changes to the bill that would clear the way for anyone saying they hold any promissory note, to make it even easier to foreclosure non-judicially. Here is the section with the most important and disturbing changes. 

The words in (( )) will be eliminated from the current law, IF this new bill is signed into law by Governor Inslee. Specifically, the language of RCW 61.24.030(7)(a) on page 2 of the bill: 

(7)(a) That, for residential real property, before the notice of trustee's sale is recorded, transmitted, or served, the trustee shall have proof that the beneficiary is the ((owner)) holder of any promissory note or other obligation secured by the deed of trust. 

A declaration by the beneficiary made under the penalty of perjury stating that the beneficiary is the ((actual)) holder of ((the))any promissory note or other obligation secured by the deed of trust shall be sufficient proof as required under this subsection. By changing "owner" to "holder" means the servicer bank asserting authority to foreclose, does not have to own the underlying debt. By changing "the promissory note" to "any promissory note" the legislature is allowing the servicer bank to only have a copy of the promissory note, a negotiable instrument. 

Can a bank cash a copy of a personal check? Nope. 

But, this legislature is going to allow a bank to foreclose their lien using only a copy of a negotiable instrument. This is not acceptable and a complete capitulation by the legislature and the so-called homeowner advocates involved in crafting this bill, to the bank and foreclosure industry in Washington State. Contact page for Governor Inslee.

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