Kristina Zack

Just in! Courtesy of Connecticut Association of Realtors

If you or you know of someone who owns and occupies a one-to-four family residence in CT and is being foreclosed on, tell them about CT's new Foreclosure Mediation Program - it could help them keep their home!

Our legislature passed Public Act 08-176, An Act Concerning Responsible Lending and Economic Security, which was signed into law in June 2008 by Governor Rell and went into effect July 1, 2008. Under the Act, the Chief Court Administrator was required to create a foreclosure mediation program by July 1, 2008.

The goal of CT's Foreclosure Mediation Program is simple - try to keep the homeowners in their homes. The program is the first unified and mandated program in the United States and requires borrowers and their lenders to meet face-to-face so they can negotiate an agreement.

Here are the numbers. The program went into effect July 1, 2008, and as of October 31, 2008, 680 cases have completed mediation with the following results:

• 361 owners (53%) stayed in their homes, and of those, 270 (40%) had their loans modified, 24 (3%) were reinstated, and 67 (10%) entered into a forbearance plan;
• 116 owners (17%) moved out of their homes because of a short sale, a deed in lieu of foreclosure or a foreclosure sale date; and
• 203 cases (30%) were not settled; and
• when you combine the "staying in home" and the "moving from home" categories, there's a settlement rate of 70%.

The mediation sessions are held at courthouses throughout the state and the mediators are Judicial Branch employees trained in foreclosure law and mediation. An owner/seller does not need an attorney to participate and everyone who signed the mortgage must attend.

This program is a winner all around. The homeowner/borrowers facing foreclosure may get to stay in their homes by negotiating new loan terms with their lender's representative, the lender ends up with a performing loan and is repaid under new or modified terms, and the number of foreclosure cases coming before the court is drastically reduced.

Roberta Palmer, Superior Court Operations, Court Operations Unit, is the person in charge of this program, any questions about how to participate and what forms are needed, please call her at 860.263.2734 or email her at roberta.palmer@jud.ct.gov.

In 2006, 45,383 meals were served by the Enfield Loaves & Fishes Soup Kitchen, with 18,644 meals, or approximately 41%, being served to children. This is a sad and sobering reminder of the ever-growing problem of hunger within our own community. Another 6,353 meals were provided for home consumption to families in emergency situations. These less fortunate people are in need of your help. In addition, 9,175 snacks were prepared for children in after school programs of Educational Resources for Children. Now, this is 2006.... Imagine today! All the more reason to donate.

Enfield Loaves and Fishes is a Local Area Soup Kitchen providing hospitality
to all those in need by offering meals, aid, and companionship at no charge

Location Drop Off: 28 Prospect Street Enfield Ct location between 2:00pm to 6:00pm Monday through Friday. Feel free to call Priscilla for more information 860.741.0226