D.C. Council tackles home foreclosures
The D.C. Council passed an emergency bill requiring mortgage lenders to enter a 90-day mediation before foreclosing on a home, the Washington Examiner reports.
Introduced by council woman Muriel Bowser (D-Ward 4), the bill is designed to force lenders to provide homeowners with alternatives to losing their homes. Bowser said it was necessary that the council act quickly to slow down the number of residents being kicked out of their houses because they can't pay off their loans.
The bill passed unanimously on Tuesday is similar to a law enacted in Maryland this year, but Maryland's law has not had the effect lawmakers had hoped.
Read more at the Washington Examiner.
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