Parkview’s Pre-Purchase Program Manager Marnie Claywell was in Olympia yesterday testifying before the Senate Financial Institutions and Insurance Committee regarding Parkview’s support for 2ESHB 2057.
This bill concerns continued funding for Mortgage Default Counseling and the addition of a requirement for mortgagors to notify reverse mortgage mortgagees via certified mail 33 days prior to initializing any legal action.
The notice will clearly state how to resolve the default and provide contact information for free counseling services and legal assistance. Parkview supports this added protection for seniors, who are the primary demographic for reverse mortgages.
You can read the bill summary here