Last week, SB1015, the Homeowner and Homebuyer Protection Act passed favorably out of the House Committe on Financial Institutions. The bill then moved on the House Judiciary II Committee (J2) for review. The J2 Committe met today to discuss SB1015, and per the request of Chairman Glazier, the bill was put into a sub0committee for further review. Members of the sub-committee include Rep. Rhyne, Rep. Jackson, Rep. Gill, Rep. Glazier, and Rep. Hurley. The bill will likely be scheduled for a committe vote early next week.
As noted in previous issues of Housing Matters, SB1015 would prohibit foreclosure rescue scams create reasonable regulations and standards for options to purchase or "rent to own" contracts and contracts for deeds. These scams and unscrupulous real estate transactions are used to exploit and manipulate families struggling to pay a home loan or families who are having trouble obtaining a loan to purchase a home.
Thank you for your outpouring of support for this bill! Please continue to call and email the Speaker of the House and members of the House Judiciary II Committe and urge them to vote YES on SB1015.
