Despite Housing Rebound, Foreclosure Mediation Programs are Still Helping Homeowners

Despite news reports regarding the recent housing market rebound, many areas across the nation are still struggling with high foreclosure rates.  Because of this, the Kane County, Illinois Board has reportedly approved a measure that would allow the state’s 16th Judicial Circuit to create a foreclosure mediation program.  According to district’s Chief Judge, Judith Brawka, the program will help alleviate stress on the courts and help some of the 4,000 homeowners living in the county who currently face losing their home through foreclosure.  The program costs are expected to run between $150,000 and $200,000 per year and will be paid for using fees imposed on mortgage lenders.  Doug Naughton, Kane County Court Administrator, stated program mediators will be selected and trained by early next year.