Under current law, the program is set to expire on July 1. This bill extends that deadline until July 1, 2012.
The program was created to help any borrower whose one, two, three, or four-family, owner-occupied home is facing foreclosure action. Trained foreclosure mediators from the judicial branch work with the homeowner and lender to attempt to reach an agreement.
The bill now moves to the Senate for further action.
