Gov. Chris Gregoire’s Task Force for Homeowner Security has issued its final report – outlining various problems with home loans and ownership and recommending solutions.
Among other things, the report "recommends a strong, clear and consistent state-wide consumer education and outreach program."
Among programs and initiatives, the report calls for providing "grants or loans to assist qualifying low- and moderate-income homeowners, who are delinquent on their mortgage payments, to bring their loan current to be eligible to refinance into a different loan product."
The report also recommends providing "tax credits, incentives, or other mechanisms to financial institutions or other mortgage originators" that are engaged in financial literacy and consumer education.
A copy of the report, issued Dec. 24, is available at dfi.wa.gov/taskforce/default.htm
Task force members included representatives from financial institutions and state and non-profit agencies.