Senate Bill 555, which will require mortgage loan servicers to have a mediation session with their borrowers before initiating a foreclosure, either a judicial or non-judicial foreclosure, will have a senate committee meeting later today. The meeting is scheduled to start at 3:00 PDT, and is streaming live at www.leg.state.or.us/listn.
This bill expands the Foreclosure Avoidance Mediation Program to judicial foreclosures and makes some technical changes to clarify the mediation process.
Cody
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