Consumer Protection Act; prohibited practices involving residential real property. (HB408)
Introduced By
Del. Glenn Oder (R-Newport News) with support from co-patrons Del. Sal Iaquinto (R-Virginia Beach), and Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
✓ |
Became Law |
Description
Foreclosure rescue; prohibition; penalties. Prohibits persons from participating in or servicing foreclosure rescues for profit. Classifies any violation of such prohibition as a Class 5 felony and provides a civil cause of action for the same. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/04/2008 | Committee |
01/04/2008 | Prefiled and ordered printed; offered 01/09/08 088231668 |
01/04/2008 | Referred to Committee on Commerce and Labor |
01/07/2008 | Impact statement from VCSC (HB408) |
01/22/2008 | Referred from Commerce and Labor |
01/22/2008 | Referred to Committee for Courts of Justice |
01/24/2008 | Assigned Courts sub: Criminal |
02/01/2008 | Referred from Courts of Justice |
02/01/2008 | Referred to Committee on General Laws |
02/04/2008 | Impact statement from DPB (HB408) |
02/08/2008 | Reported from General Laws with substitute (21-Y 0-N) (see vote tally) |
02/09/2008 | Committee substitute printed 081867668-H1 |
02/09/2008 | Read first time |
02/11/2008 | Read second time |
02/11/2008 | Committee substitute agreed to 081867668-H1 |
02/11/2008 | Engrossed by House - committee substitute HB408H1 |
02/12/2008 | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
02/12/2008 | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally) |
02/12/2008 | Communicated to Senate |
02/13/2008 | Constitutional reading dispensed |
02/13/2008 | Referred to Committee on General Laws and Technology |
02/20/2008 | Reported from General Laws and Technology with substitute (15-Y 0-N) |
02/21/2008 | Committee substitute printed 082426256-S1 |
02/22/2008 | Constitutional reading dispensed (40-Y 0-N) |
02/25/2008 | Read third time |
02/25/2008 | Reading of substitute waived |
02/25/2008 | Committee substitute agreed to 082426256-S1 |
02/25/2008 | Engrossed by Senate - committee substitute HB408S1 |
02/25/2008 | Passed Senate with substitute (39-Y 0-N) |
02/25/2008 | Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) |
02/25/2008 | Passed Senate with substitute (40-Y 0-N) |
02/26/2008 | Placed on Calendar |
02/27/2008 | Senate substitute agreed to by House 082426256-S1 (95-Y 0-N) |
02/27/2008 | VOTE: --- ADOPTION (95-Y 0-N) |
02/29/2008 | Enrolled |
02/29/2008 | Bill text as passed House and Senate (HB408ER) |
02/29/2008 | Signed by Speaker |
03/03/2008 | Signed by President |
03/07/2008 | Governor's recommendation received by House |
03/07/2008 | Placed on Calendar |
03/08/2008 | Enacted, Chapter (effective 7/1/08) |
03/08/2008 | House concurred in Governor's recommendation (97-Y 0-N) |
03/08/2008 | VOTE: --- ADOPTION (97-Y 0-N) (see vote tally) |
03/08/2008 | Senate concurred in Governor's recommendation (40-Y 0-N) |
03/08/2008 | G Governor's recommendation adopted |
03/08/2008 | Reenrolled |
03/08/2008 | Reenrolled bill text (HB408ER2) |
03/08/2008 | Signed by Speaker as reenrolled |
03/08/2008 | Signed by President as reenrolled |
03/08/2008 | Enacted, Chapter 485 (effective 7/1/08) |
03/10/2008 | Impact statement from DPB (HB408ER) |
03/14/2008 | G Acts of Assembly Chapter text (CHAP0485) |
Comments
This bill may MOST BENEFIT THE GREED OF THE GOVERNMENT and HIGH SALARIED EXECUTIVES OF "NON-PROFIT" CONSUMER RIGHTS ORGANIZATIONS.
None of you appear to be looking at this on the whole. Not ALL investors who buy houses are scam artists. I may be priced out of my own home in the next few years because Fairfax has raised my property taxes EVERY YEAR (doubled the monthly amount in one year) and I HAD TO REFI FROM A 30 FIXED TO AN ARM TO AFFORD THE TAXES even as my bank reduced the assessed value by 100k "according to internet formulas." What investor would, or COULD, buy a "distressed" property with the express purpose of NOT making a profit.
So, who makes money on foreclosed properties, banks, mortgage brokers, the goverment as property reverts to counties or for tax liens, "non-profit" consumer organizations with high salary executives...as they help "save" the poor homeowner, right out onto the street?!?!?
Personally, I would rather have the possibility of someone to buy my house before I would lose all credit standing (currently above 800) and any possibility of buying again at a decent interest rate within 10 years after...and hey, with kids I truly would want to move houses, yank them from school and be unable to afford to buy again until time to spend the money on college. Thank for removing yet another free market perk of a democratic society...the ability to try to solve problems without going on the govvy dole.