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2012 SESSION
SB 644 Foreclosure counseling pilot program; established in Cities of Manassas and Manassas Park, etc.
Introduced by: Charles J. Colgan | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Foreclosure counseling pilot program. Directs the Director of the Department of Housing and Community Development to establish a pilot program for Prince William County and the Cities of Manassas and Manassas Park under which qualified employees of the Department will provide foreclosure counseling to homeowners at no charge. Counseling will include facilitated negotiations between homeowners and mortgagees for the purpose of reaching an agreement for mortgage loan modification or other agreement in an attempt to avoid foreclosure or to mitigate damages if foreclosure is unavoidable. Participation in the program is optional. The Director is required to report on the effectiveness of the program. The measure expires July 1, 2017. The bill is contingent upon an appropriation of General Funds effectuating the provisions of the bill.
SUMMARY AS INTRODUCED:
Foreclosure counseling pilot program. Directs the Director of the Department of Housing and Community Development to establish a pilot program for Prince William County and the Cities of Manassas and Manassas Park under which qualified employees of the Department will provide foreclosure counseling to homeowners at no charge. Counseling will include facilitated negotiations between homeowners and mortgagees for the purpose of reaching an agreement for mortgage loan modification or other agreement in an attempt to avoid foreclosure or to mitigate damages if foreclosure is unavoidable. Participation in the program is optional. The Director is required to report on the effectiveness of the program. The measure expires July 1, 2017.