Thursday, November 26, 2009
California Considers Foreclosure Mediation Program
Californians facing rising home loan payments or foreclosures could get some help from the state capital, where lawmakers are considering the creation of a mediation program similair to those adopted in more than a dozen other states. Nevada program is seeing success.
The program would allow borrowers at risk of loosing their homes to request a mediation process with the lender.
Assemblyman Pedro Nava, D-Santa Barbara is the author of the bill.
Jim W Hildreth of Real Estate Mediation Servies echos the disconnect between the banks and homeowners.