State lawmakers have voted to extend the use of mandatory settlement conferences in residential foreclosure cases through 2020.
June 13, 2014 at 12:00 AM
1 minute read
State lawmakers have voted to extend the use of mandatory settlement conferences in residential foreclosure cases through 2020.
The state in 2008 mandated conferences to help achieve outcomes other than foreclosure for homeowners with subprime and high-cost mortgages. The law also required lenders to send a 90-day notice to borrowers before initiating any action.
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