Philadelphia Decides Not To Change Foreclosure Program
Philadelphia Trial Court Judges Herron and Tereshko announced in a notice to the bar that they were not going to change a popular residential foreclosure diversion program. There was a proposal to end conciliation for foreclosures after a maximum of four conferences held within 150 days after foreclosure complaints were filed. The Judges stated that the reasons for maintaining the program as it has been conducted include the fact that the number of foreclourses is forecasted to increase and that capping the number of conciliation conferences would harm the program. Judge Herron also said that mortgage lenders, servicers and creditors are not always able to assemble the requisite documents in the time frame. Mayor Nutter also supported the continuation of the program.
