Must Reads Kitzhaber signs foreclosure mediation bill
| Kitzhaber signs foreclosure mediation bill | | Print | |
| Must Reads |
| Thursday, April 12, 2012 |
|
Gov. John Kitzhaber signed a bill that establishes protections for homeowners facing foreclosure. Senate Bill 1552 creates a foreclosure mediation program and requires banks to meet with borrowers who elect to participate. It also outlaws lenders' practice of initiating foreclosure proceedings while simultaneously negotiating for a possible loan modification. The law will take effect in 90 days, on July 12. In the meantime, the state attorney general's office has convened a group of stakeholders develop the specifics of the program. Read more at OregonLive.com. |
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