This just in, HB 2791 Sucks

Posted May 27th, 2008 by Joe Kaiser

Washington's attorney general Rob McKenna said the idiots (my word, not his) sneaked "real estate brokers/agents" in to this legislation under cover of darkness the eve before voting on this legislation

Dear Rob,

A buddy of mine just got back from the Northwest MLS “Distressed Properties Law” training for brokers.

They were there to learn more about your new foreclosure rescue scam laws.

He sent me an email about it, and there was mention of legislators “sneaking” things into the law on the eve of the vote.

Any truth to that?


Take a look for yourself

Here’s his email . . .

I just came back from NWMLS’s presentation to brokers on the scheduled June 12 start date of the Distressed Properties Law.

Every other 5th slide the attorney presenter showed us in his three hour power point instructional was laced with, “When working with one of these Sellers (or a Buyer interested in a house being offered by one of these Sellers) consult an attorney.”

Washington is one of 19 states with newly enacted legislation to protect the home owner from being scammed as they desperately try to sell their home before foreclosure is processed against them.

Washington is the only state with such legislation that included the real estate sales industry in the legislation for being an integral part of the scammers that the home owner is now being protected against starting June 12.

Not only is it confusing to agents, sellers, and buyers, but it puts a big target on the forehead of every real estate agent (REGARDLESS of agents representing sellers or buyers), and– it sends agents– who are the most capable to help these tragic folks– running away with their hair on fire from the very same folks the legislation it is supposed to protect…..the sellers.

Washington’s attorney general Rob McKenna said the idiots (my word, not his) sneaked “real estate brokers/agents” in to this legislation under cover of darkness the eve before voting on this legislation (so said the presenter this afternoon).

The irony . . . the consumer who this legislation was intended to benefit will be the one most hurt while the well intended real estate sales industry will be gun shy from trying to help them..

Not even Oregon can come as close to this one for leftist stupidity !Local Real Estate Broker


Duly Noted

Agents running away from sellers facing foreclosure, deciding the risk far outweighs the reward?

It, among other things, has been added to the ever-growing list of the havoc-wreaking unintended consequences this bill has created.

I wonder who will be blamed for this monstrosity when it comes time for someone to accept responsibility.

Jim? Brian? Ignacia? David?

These geniuses have effectively forced real estate investors and real estate agents from the foreclosure marketplace, leaving sellers with no one to turn to (at least we think so . . . the law is so inartfully drafted and so ambiguous and convoluted no one can say for sure).

Who’s left to help these folks avoid foreclosure, Rob?

You and your office?

I’m guessing, like Hector and Ruth, they’d prefer you just get the heck out of the way so they can save their homes.


a very simple bill – shut up

All is not lost, Rob, because I do have an solution to your problem . . .

If you’d like to get this thing fixed and be regarded as the state having the best foreclosure laws on the books (so impressive other states will look to Washington as the gold standard and rush to model their laws after yours), don’t hesitate to give me a call.

I’m 100% serious.

A few buddies of mine and a weekend with umbrella drinks, pizza (the pizza was added per DaveD’s comments below) and chicken wings will get it sorted out for you, no problem.

Fellas, you ready to jump in and give Rob a hand with this thing?


Real Genius

And if you don’t mind, this time around we’ll go with a better definition of “sophisticated” (as opposed to Eric Dunn’s) . . .

Simplicity is the ultimate sophistication.Leonardo Da Vinci

In the arena,

Joe Kaiser


9 Responses to: “This just in, HB 2791 Sucks”

  1. DaveD responds:
    Posted: May 28th, 2008 at 5:58 am

    Ugh, pizza, too!

    I remarked in one of your earlier posts it’s a shame they never contacted you to opine during the “comments” period that pending legislation always has.

    Most of this nonsense could have been headed off had they spent a few minutes with a true expert, instead of the ivory tower academians who never had to put their own dough on the line. It shows – what a piece of work!

  2. Loya responds:
    Posted: May 28th, 2008 at 8:21 am

    I will be there…………………

  3. Joe Kaiser responds:
    Posted: May 28th, 2008 at 9:16 am

    You think they’d contact me about foreclosure rescue scams?

    Isn’t that about the same as asking Al Capone what he thinks of the prohibition laws, or do you not realize I am Public Enemy #1?

  4. DaveD responds:
    Posted: May 28th, 2008 at 8:01 pm

    His tool of preference was the Tommy gun. Your blue pen, along with the pic of you and your nephew (think Equalizer) just isn’t the same threat. Effective, yes… legal, yes, moral, yes, and sad they can’t figure that out. After all, there are still REAL bad guys out there.

  5. Micha-el responds:
    Posted: May 30th, 2008 at 9:39 am

    Joe…

    I was not aware of your plight with the governing & legislative suits.

    You have not said as much but you may be putting the links together that the mid-night inclusion of the brokers & salespeople to the legislation MAY be more of a personal attack.

    At least we can now have a target to point at, maybe we should be referring to it as the Get-Kaiser Law ?

  6. Joe Kaiser responds:
    Posted: May 30th, 2008 at 1:30 pm

    Micha-el,

    It’s not a plight . . . it’s an honor and privilege to be the guy chosen to be made example of. I accept the challenge and am looking forward to my day in court.

    Joe

  7. gary buckley responds:
    Posted: May 31st, 2008 at 4:38 am

    As a response to my concern, the following came to me from a gentleman with a highly visible, long, distinguished public service record with a major Pierce County municipality in response to the Distressed Seller legislation to be in effect in less than two weeks, June 12th. He is a long time investor which therefore has made him a member of the pool of potential threats to distressed Sellers that Olympia wishes to protect Sellers from. Some statements are edited out that do not otherwise alter the essence of what is stated here.

    May 31, 2008
    Hi Gary:

    I already fought the foreclosure battle with the AG and legislature and lost. Parts of the legislation I can live with regarding everything put in writing and disclosure but the 82% rule and post purchase appraisal are deal killers. There is only one group that benefits from all this and that is the bank or lender threatening to foreclose. I have done 3 residential and 1 commercial pre-foreclosure purchases and will do no more. There are too many legal traps in the current legislation to deal with. Unfortunately, the media only picks the personal interest stories about people losing their homes due to circumstances beyond their control without really addressing what they could have done to avoid the situation altogether.

    Too bad………..now I’ll have to show up at 9:30 on Fridays at the courthouse and pick up the properties at auction and then immediately evict the [ occupants ].

    MY RESPONSE TO HIM:
    Thank you, [name]. This adds conviction to the circumspection of those of us examining, for the first time, the imminent law. Your judgment based on seasoned experience and critical examination of the liability inherent on how to address your business going forward in light of the law, is an example of the choice that others similar to yourself will likely make for themselves when having to make that decision soon. It is an indictment of the law’s consequence to remove those like yourself from the mix of options that a distressed seller would otherwise have. Everyone likes options, especially the distressed. The government has done its own foreclosure in removing choice from the menu for those who most need it.

    Gary Buckley
    Lakewood, WA

  8. Loya responds:
    Posted: May 31st, 2008 at 11:54 am

    Gary, well said!

  9. Chris responds:
    Posted: June 1st, 2008 at 7:50 pm

    Florida signs their own Foreclosure Rescue legislation, to rein in scammers . . . Florida Governor Signs Foreclosure Rescue Law

    “By protecting our citizens who face the threat of foreclosure from those individuals who would prey on them, this law will ensure that homeowners will not be further victimized at a time of personal financial crisis.”

    How many states have passed this type of legislation so far? Any stats to show what has befallen these communities? I know foreclosures are up everywhere, but how to these states compare to the average?


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