Since Sept. 1, 2008, state law has required lenders to submit specialized requests for judicial intervention when filing foreclosure summonses and complaints on one-to-four-family residences with a high-cost loan dating back to Jan. 1, 2003. Courts then notify property owners of their right to a resolution conference and provide details about legal service providers who can represent them. But getting people to show up for proceedings aimed at keeping them in their homes has been a challenge.
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Lenders' Willingness to Talk Boosts Conferences
New York Law Journal
November 30, 2009
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