Save Connecticut’s Foreclosure Mediation Program
by Ryan McKeen
I was startled to read in last week’s CT Law Tribune that funding for the program may lapse come July...
Keeping people in their homes where possible benefits Connecticut’s towns, families, banks, and property values. Sometimes there is no alternative to a foreclosure but their often is.
The foreclosure mediation program has been successful at forcing lenders and their attorneys to engage in meaningful negotiations. Something that rarely happened before the implementation of the program. I can’t tell you how many people I’ve spoken with that used to say, “I could never get such and such law firm on the phone”.
Failing to properly fund or to discontinue the foreclosure mediation program will come at a significant cost to our property values, economy, and system of justice.
And a must read on Rell adminstration incompetence costing CT taxpayers $1 billion dollars, with a follow-up and more details here.