Tag Archives: Oregon enacts mandatory mediation for homeowners seeking mortgage mods

A foreclosure mediation program enacted by the Oregon State Legislature took effect Wednesday, providing distressed borrowers in the state with another avenue to remain in their homes. The new law gives homeowners a face-to-face meeting with firms holding their mortgages to discuss loan modifications and other work-out options. The state is not the first to enact a mandatory mediation program for certain borrowers, but it’s one of the few to gain helpful insight by watching other states launch similar mediation programs. “I think Oregon did a good job by seeing […]