CT House extends foreclosure mediation

The News Leader

May 3, 2010 5:55:42 PM PDT
A bill extending the life of program that helps Connecticut homeowners facing foreclosure has passed the House of Representatives. Proponents of the bill said Monday the Foreclosure Medication Program, originally established in 2008 and operated by the judicial branch, is still necessary given the state's continuing economic troubles.

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.