This week, the D.C. Council approved a measure requiring lenders to go through six months of mediation with a homeowner before proceeding with a foreclosure.


Mediation allows the borrower and the lender's representative to negotiate, with the guidance of an impartial go-between, over possible alternatives to a foreclosure, such as a loan modification. But neither side can be compelled to agree to a mediated solution.


You can find the full article from The Washington Post [here].

Views: 16

Reply to This

@ADRHub Tweets

ADRHub is supported and maintained by the Negotiation & Conflict Resolution Program at Creighton University

Members

© 2024   Created by ADRhub.com - Creighton NCR.   Powered by

Badges  |  Report an Issue  |  Terms of Service