Issue Position: End Foreclosure Fraud; Repeal the Deed of Trust Act
Issue Position
Decrease homelessness and End non-judicial foreclosure in our state!
Homelessness is an increasing problem in our state and county. In the last two years we have seen a 40% collective increase in homelessness in King County within the last two years, yet we have over 5k foreclosures at the moment and 0ver 2000 empty bank owned homes in the county.
This is a problem that affects us all as we search our hearts and minds for solutions. No one wants to see veterans, children and the elderly on our street. No one wants to see their neighbors disappear one by one. No one enjoys living with the uncertainty of the housing market as it is manipulated by the banks. The "too big to fail" banks are pillaging our communities and it is time for that to STOP.
Families around this state are being evicted from their homes needlessly; they are migrating to urban areas to look for homes and jobs. This is driving up rents. When the existing tenants can't afford the new rents or first, last and a deposit, they are either on the street or on a couch.
We can see the signs on every corner. We have 50,000 homeless kids in our state, yet empty homes dot the state like bodies on a battlefield. What is the response? To build tent cities and provide mobile health services. Both are admirable attempt to band-aide a situation but do nothing to address the cause.
The smart response is to identify the cause of the homeless crisis and work to eliminate one of the root causes. Foreclosure is a quick path to homelessness. This is why I have worked nearly 8 years to fight the foreclosure epidemic. I saw this homelessness crisis coming as I toured empty homes several years ago and listen to the tragic stories day in and day out.
We have had over 640,000 families in this state evicted from their homes, about 80% of them, unnecessarily, because they should have been offered a modification. That is what the bailed out banks were supposed to do in return for taxpayer money. But instead, the banks used the program to lure people into default and then they foreclosed upon them. They are still doing to.
We have a WA Foreclosure Fairness Act mediation program and spent $4 million last year to save 800 homes out of over 4000 referrals. That is a failure. Why is it failing? Because the banks just go through the motions and there is no way to stop them.
We can see the There is a mountain of case law and evidence indicating the banks have been up to no good they are breaking laws with impunity. This is a root cause of homelessness in our communities.
This is why I will work to end non-judicial foreclosure in our state by repealing the Deed of Trust Act.
Washington State is home to non-judicial foreclosure. This means that a home may be repossessed and sold at auction by a third party "judicial substitute" called a trustee. This trustee is actually hired by the bank but is supposed to have a duty of good faith to the borrower and be unbiased like a judge. That doesn't even make sense does it? Homeowners never get their day in court and it is easier to repossess a home than a car in this state! You don't even have to prove ownersship of the loan or how much is owed!
Washington's non-judicial Deed of Trust system is unjust and unconstitutional, as homeowners face three additional barriers to due process:
(1) If a homeowner has cause to defend their property via a lawsuit, and the majority do, they MUST pay a bond equivalent to their mortgage payment each month to the court for the duration of the lawsuit.
(2)The homeowner is the plaintiff bringing the action so the burden of proof is on them.
3) IF they lose, they must pay the bank's attorney fees too, so filing a lawsuit is a very risky proposition.
When elected I will work to end non-judicial foreclosure in our state. I will stand up against the banking lobby and defend homeowners against the abuses they have been feeling for years. I will work to restore justice and liberty in our state. I will work to repeal the Deed of Trust act.
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