Bill would require mediation before foreclosure
RALEIGH Banks would be required to go through formal mediation with a homeowner before beginning a foreclosure under the terms of a bill pending in the N.C. Senate.
It's a response to the continuing trouble borrowers have had in saving their homes, despite a massive legal settlement designed to make the process easier.
“To the public, it looks very confusing,” said Sen. Clark Jenkins, a Tarboro Democrat, who introduced the bill. “You'll find people in absolute horror stories.”
State attorneys general and federal agencies directed five of the... read more
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