In Oregon, homeowners who want to challenge a non-judicial foreclosure can now opt for mediation. They pay two hundred dollars in order to meet with a housing counselor, then sit down with both a state-sanctioned mediator and a representative of the bank. While Consumer advocates anticipate many homes will still be foreclosed, the hope is that those who are still capable of making mortgage payments will be able to renegotiate their loans. This modification to the foreclosure process is currently available only in non-judicial foreclosure. For a variety of reasons, lenders have in the last year or so shifted to initiating judicial foreclosure through the courts.

It is hoped that changes to Oregon’s mortgage mediation program allowing the mediation option in judicial foreclosure will be enacted by the 2013 Oregon legislature.The state senators who negotiated the foreclosure mediation program have said they want to expand mediation requirements to judicial foreclosures, since more lenders are going through the courts.

IF you are in the midst of a judicial foreclosure, there is no need to go it alone. Contact the Northwest Debt Relief Law Firm at 503-232-5303 or 206-674-4559. We would be more than happy to help.