Non-Judicial Foreclosure Bill is Heard in Committees

2011-10-19

Issue Brief

Legislation to allow non-judicial foreclosure for timeshare mortgages and association assessment liens in Wisconsin Assembly Bill 328 has been introduced in both the Assembly and Senate and was heard today in the both Chambers. ARDA-Wisconsin and ARDA-ROC representatives provided testimony in each committee in support of the bill.

 

Impact

The delays and expenses associated with the court-administered foreclosure process have created a financial burden on timeshare owners, associations, and developers. This legislation will make timeshare foreclosures less expensive and more efficient while maintaining consumer protections for defaulting owners. A copy of the Assembly bill is available here.

 

Position/Call to Action

ARDA-ROC and ARDA-Wisconsin support AB 328, relating to Non-Judicial Foreclosures for Timeshares and ask for your support as well. The bill will soon be scheduled for votes in the Senate Committee on Workforce Development, Small Business, and Tourism and the Assembly Committee on Tourism, Recreation, and State Properties. When votes are scheduled we encourage you to contact committee members to let them know you support AB 328. For a list of Senate and Assembly committee members, please click the highlighted links. The most effective tool for communicating with your legislator is a personal telephone call or you can write a personal letter, fax or email. ARDA-Wisconsin and ARDA-ROC have put together a list of talking points but remember that these points are most effective when put in your own words about why the bill is important to you.

 

Issue Updates

AB 328 was well received in both the State and Assembly Committees on October 19. Please check back here to find out when votes are scheduled on the bill.