Can Foreclosure Be Mediated?

July 20, 2009

The Center for American Progress argues that mandatory
mediation is the U.S.’s best bet for heading off the foreclosure crisis. An
overwhelming majority of distressed homeowners never even seek help from their
lenders, and the court system certainly is not equipped to dole out solutions
while hammering through foreclosure dockets. The article details several
actions that (if required) could assist troubled homebuyers.

Kentucky Takeaway: Kentucky is like the majority of the
states in that it has minimal mandatory mediation on its books. If foreclosure
worsens, though, local support could grow, and one would expect Louisville to
be out front on that campaign.

Source: http://www.inman.com/news/2009/07/20/mediation-proposed-foreclosure-fix