Judges, Non-Profits Offer Foreclosure Help

by scrosby on June 30, 2009

Homeowner Jack Wheatley managed to keep his home by working with the Foreclosure Conciliation Project.Some Jefferson County judges are teaming up with non-profits to help Louisvillians who are faced with foreclosure.

Circuit Court Chief Judge Jim Shake says many times homeowners who are dealing with foreclosure are contacted with a lot of scam offers and are afraid to communicate with their lender.

Shake says under the new Foreclosure Conciliation Project, circuit court judges will require lenders to have a meeting with homeowners before selling their house. He says many of those meetings result in another option being found, but it doesn’t work for everyone.

“The Foreclosure Conciliation Project is not a defense to a foreclosure lawsuit,” says Shake. “Opting into this program does not delay to hinder in any way the lender’s ability to seek a judgment and proceed with the foreclosure process.”

Last year, more than 3,200 foreclosures were filed in Jefferson County. If they continue at the current rate, Louisville could see 5,000 filings by the end of this year.

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stop foreclosure July 7, 2009 at 12:10 pm

Forbearance’ is a way of avoiding a foreclosure. Forbearance is a postponement of loan payments for a temporary period of time.

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