SALEM, Ore. (AP) — Legislation intended to help homeowners facing foreclosure appears to be dead, with both Republicans and Democrats saying negotiations have broken down.
Lawmakers from both parties say they disagreed about the role that financial counselors should play in the foreclosure process and whether borrowers should be able to force their lender into mediation.
Democrats say all struggling homeowners should be able require their bank to meet with a professional mediator. Republicans argue that the process can’t help many homeowners, so people who are struggling should meet with a financial counselor who would decide whether to mediate or try to help in a different way.
The parties also disagreed on other issues, including how to use Oregon’s $30 million share of a settlement with mortgage lenders over foreclosure practices.