HB408: Consumer Protection Act; prohibited practices involving residential real property.

Chief Patron

Glenn Oder (R-94)
Newport News, VA
Served: 2002–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

03/08/2008: enacted

View Entire History

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) (see vote tally)
02/21/2008 Committee substitute printed 082426256-S1
02/22/2008 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
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) (see vote tally)
02/25/2008 Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/25/2008 Passed Senate with substitute (40-Y 0-N) (see vote tally)
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) (see vote tally)
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) (see vote tally)
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)

Summary

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.

View Full Text »

Video

Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 01/22/2008, 01/22/2008, 01/24/2008, 01/24/2008, 02/01/2008, 02/01/2008, 02/04/2008, 02/04/2008, 02/11/2008, 02/12/2008, 02/13/2008, 02/13/2008, 02/21/2008, 02/22/2008, 02/22/2008, 02/25/2008, 02/26/2008, 02/26/2008, 02/29/2008, 03/07/2008 and 03/07/2008.

Comments

Waldo J., tracking this bill in Photosynthesis, notes:

You know those "We Buy Houses" signs you see stapled 20' up telephone poles? That's what this is to stop. Those things are all scams, created to prey on people when they're about to lose their homes and are at their most vulnerable. This is an important bill, and I'm really pleased to see Del. Oder introduce it.

Posted 4 months ago. #

Cindy writes:

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.

Posted 3 months ago. #