Missouri To Consider Eliminating Foreclosure Mediation Programs
JEFFERSON CITY, Mo. (KMOX) – The Missouri state legislature is considering a bill that would eliminate the possibility of foreclosure mediation programs.
Foreclosure mediation had started in St. Louis County last year, requiring those being foreclosed on to meet with the lender and a mediator to work out a way that the person could stay in their homes.
The Missouri Bankers Association sued saying it will cost them too much money, so the program is frozen.
St. Louis County Executive Charlie Dooley says he knows the bankers lobby in Jefferson City is strong. “I’m not surprised, I’m disappointed. I think there is a tremendous opportunity to help people in need.”
He says the program was only able to help about 15 people in the two months it operated before being shut down. The county is still fighting to reopen the program.