The New York Times had a great February 11 article in its Real Estate section (“Mediating in Slow Motion“) that highlights the challenges of fighting foreclosure in Connecticut. The article features my clients and does a great job of examining the effectiveness (and lack of effectiveness) of Connecticut’s foreclosure mediation program.
(Appropriate commentary from BAPCPA Man (http://bankruptcybill.us). Re-posted by Eugene Melchionne, Esq. with the express permissions of the creators of Bankruptcy Bill.)
The Connecticut foreclosure program entitles Connecticut homeowners to a mediation session with their mortgage lender and requires that both sides negotiate in good faith to try and work out a loan modification.
It appeared that the lender, HSCBC, was prepared to offer a loan modification. But when they mediation began, suddenly HSBC’s designated lawyer acted as if there were no such offer. After that, all attempts to communicate with HSBC seemed to fall on deaf ears.
Read the article here for the full story.
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If you’re thinking about bankruptcy in Connecticut, please contact me for a free initial consultation to get answers to all of your Connecticut bankruptcy questions.
Contact Attorney Melchionne
Eugene S. Melchionne, Esq.
27 First Ave.
Waterbury, CT 06710
(203) 757-3437
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