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Deferred bill would spur the use of loan mediation

By Andrew Gomes

POSTED: 01:30 a.m. HST, Feb 12, 2014

~~<p>A mediation program established by the Legislature three years ago to help Hawaii homeowners avoid foreclosure may continue to sit idle after the latest effort to spur its use fell flat before a panel of lawmakers Monday.</p>
<p>House Bill 2356, which proposed to let homeowners engage mediators to resolve mortgage loan troubles before lenders can file foreclosure lawsuits in state court, drew support from the state Office of Consumer Protection and opposition from mortgage industry representatives.</p>
~~

A mediation program established by the Legislature three years ago to help Hawaii homeowners avoid foreclosure may continue to sit idle after the latest effort to spur its use fell flat before a panel of lawmakers Monday.

House Bill 2356, which proposed to let homeowners engage mediators to resolve mortgage loan troubles before lenders can file foreclosure lawsuits in state court, drew support from the state Office of Consumer Protection and opposition from mortgage industry representatives. Login for more...



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