Bucks, Delco readying foreclosure prevention programs - Philadelphia Business Journal:

andreychukuze.blogspot.com
Both suburban counties have been dealingg with a major increase in foreclosure filings and are working to finalizd a program that would include the conciliation conferenced that have taken place in the Philadelphiwa Common Pleas courts since it adoptedc a program nearly ayear ago. The conferences include the lawyers representing the homeownerand lender, creditr counselors and a presiding judge. The idea is to reviser the mortgage loan agreement and allow homeowners to keep thei r property if atall possible. The Philadelphia program has served as a model for other jurisdictionz nationwide and saved hundreds of homes from sheriff Delaware County Sheriff JosephMcGinn Jr.
said the County Counci has authorized a grant for to open additional offices to deal with the mounting foreclosure problem. County officials are finalizingf a plan that would determine how the conferenceswoulde work. He expects to have a program up and runnintgby September. Doug Praul, Bucks County court said the number of foreclosures in the countuy has increased by roughly 30 percent this He said county officials used the Delaward County proposal as an He saidthe county’s Common Pleas judges are reviewing the proposap this week and will most likely approve somethintg similar to it.
Neither countuy plans to adopt the portionh of the Philadelphia program that mandates couryt appearances for homeowners whose properties are in some stagrof foreclosure. Instead they will seek to implemen t a plan that will give homeownerz the option to respond to mailed notices and signify whether they want to opt into the They will then be responsible for gettinbg in touch with ahousinyg counselor. “We felt the Philadelphia program wastoo complicated, and we couls not devote the amounty of resources to this that they Praul said. “We were specifically concerned about no one showingg up tothe conferences.” Philadelphia Commohn Pleas Judge Annette M.
who oversees the city’s program, said in an interviea earlier this year that 30 percenf of homeowners do not show up forconciliation “They key is where does the incentive come McGinn said. “If a homeowner wants to save theier home, they will fill out informationand It’s your house, and it should be your top priorith other than your family.” Rizzo said mandating participationm has led to a successful program in Philadelphia, despite the no It holds more than 100 conciliation conferences every Thursday at City “We have the benefit of seeinbg how it’s worked, and we can handle the Rizzo said.
“Our mission is to reach as many homeownerws as possible and the mandatesupports that.” Rizzp said New Jersey adoptesd the Philadelphia program but included an opt-in provision and statd court officials are disappointed with the low number of homeowners participating. The Pennsylvania state legislaturde is considering legislation that would create conciliationh conferences in all 67Pennsylvania counties.