Friday, April 3, 2009

Finance & Commerce Article - Mediation?

The Center's Executive Director, Julie Gugin was quoted in an article about a new program being debated by Minnesota lawmakers: require lenders to participate in a mediation session with homeowners before proceeding with foreclosure. As currently outlined, the program would be administered by the Attorney General's office.

Here are some of the highlights of the article:

Mike Thompson has a simple message for Minnesota lawmakers touting the idea of mediation between troubled homeowners and their lenders: buckle up

... mediation isn’t a panacea for every struggling homeowner.

“We do exactly what Michael Thompson and his group do,” said Julie Gugin, executive director of the Minnesota Home Ownership Center. “I think the remaining challenge that many of us who are working in this field are facing is, ‘What is the best way to get lenders to the table in an efficient way that gets decisions made quicker?’ I don’t believe we’ve landed on an answer to that question yet,” Gugin said.

The entire article is HERE.

As the article states, the Center does not have a position for or against the proposal... but homeowners that are struggling with payments should NOT WAIT. The Center's network of Foreclosure Prevention Specialists can help TODAY.

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