Senate Chamber Passes Wisconsin Non-Judicial Foreclosure Bill

2011-10-28

Issue Brief

After quickly being passed in both the assigned Senate and Assembly committees, Wisconsin Assembly Bill 328, legislation to allow non-judicial foreclosure for timeshare mortgages and association assessment liens, was passed unanimously by the Senate Chamber yesterday. AB 328 will be heard on the Assembly floor next Tuesday, November 1.  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 was scheduled for vote in the Senate Committee on Workforce Development, Small Business and Tourism today, October 24 at 9:30 AM and the Assembly Committee on Tourism, Recreation, and State Properties on Tuesday, October 25 at 10:00 AM. 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

Both the Senate and the Assembly committees passed the bill, the Senate with a unanimous vote. The bill moved to both Chambers and was unanimously passed on the Senate floor.  AB 328 will be heard on the Assembly floor next Tuesday, Nov 1.  If passed, the bill will move to the Governor's office.  Please check back here for updates on the progress of this legislation.

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