SALEM, Ore. (AP) — Oregon officials are pushing to get a counseling and mediation program in place in hopes of saving more than 10,000 homeowners from foreclosure.
Earlier this month, the Legislature passed a bill requiring lenders to sit down with homeowners who requests mediation.
Oregon’s new law is similar to one passed in Nevada in 2009 that has been praised by federal officials and consumer advocates for its success rate.
The Salem Statesman Journal (http://stjr.nl/ydDLpR ) reports that Oregon officials face a tight schedule for getting the program up and running in about three months.
An unanswered question, the paper says, is whether the state has enough mediators and housing counselors.
Information from: Statesman Journal, http://www.statesmanjournal.com