Disagreement Over Foreclosure Mediation
HARTFORD, Conn. (AP) _ Some Connecticut lawmakers are seeking to extend the state’s foreclosure mediation program to 2014.
The Connecticut Fair Housing Centers says the program, created in 2008, has helped 5,000 homeowners keep their homes. The funding is set to expire in June.
Speaker of the House Christopher Donovan and the chairmen of the Banks and Housing Committees held a news conference Monday to discuss efforts to help families fend off foreclosure. Besides extending the mediation program, they’re backing legislation that would put foreclosure action on hold until the mediation process is complete.
The bill also gives courts the ability to extend the mediation period by more than 30 days.
The Department of Banking opposes that idea, saying it is working with the courts and mortgage industry to improve the process for all parties.
(Copyright 2011 by The Associated Press. All Rights Reserved.)