New State Laws May Reduce Foreclosure Timelines
Is this the beginning of the end for foreclosure mediation programs?
Currently under review by Missouri Governor Jeremiah “Jay” Nixon is House Bill 446, which would prohibit cities and counties from enacting laws or ordinances impacting the enforcement of servicing of real estate loans. (The Governor’s deadline for action is July 14.) The measure’s real impact: abolishing local-level foreclosure mediation programs, such as those in place in the city of St. Louis and St. Louis County since 2012 (until recently enjoined by Missouri courts).