Lenders refuse to participate in mediation program

Lenders refuse to participate in mediation program

Private Oregon mortgage servicers have refused to participate in the state's new foreclosure mediation program.

The state's contractor charged with running the mediation program told an advisory committee in Salem on Wednesday that 132 eligible homeowners applied for the program on the grounds that they are at risk of foreclosure. The law allows at-risk borrowers to request a meeting with their lender even before they've missed a payment.

But none of the mortgage servicers responded to the requests within 15 days as required under the law that created the program.

Read more at OregonLive.com.

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