Proposed law in St. Louis County would allow foreclosed homeowners to mediate with lenders

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by KMOV.com staff

KMOV.com

Posted on August 22, 2012 at 3:11 PM

Updated Wednesday, Aug 22 at 5:20 PM

ST. LOUIS COUNTY, Mo. (KMOV) -- The St. Louis County Council is proposing a new law that would allow homeowners about to lose their homes to request a mediation.

According to officials, 2,000 homes have been foreclosed in St. Louis County this year, which is an all-time high.

The proposed law would let homeowners sit down and talk to face-to-face with their lender to attempt to work out a method to stay in their house.

But the Missouri Banker’s Association is opposed to the proposal.

News 4’s Russell Kinsaul is asking the association why it’s not supporting the law and will have their response on News 4 at 6 p.m.

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