'Buyers Choice' bill progresses

Livingston Democrat Cathleen Galgiani is trying to strengthen a law that lets people who buy bank-owned homes choose their escrow companies.

The Legislature passed the "Buyers Choice Act" last year, but loopholes have left some home buyers paying more when they do business with banks that have exclusive contracts with certain escrow companies.

The new bill cleared two Assembly committees over the past week on its way to a vote.

It would require banks to provide standard language to buyers so they understand they can choose a local escrow company.