On July 11, 2012, Oregon introduced a new protection for struggling homeowners. The Oregon Foreclosure Avoidance Mediation Program provides for homeowners to meet with their lender in the presence of a mediator in order to explore all possible options before the property is foreclosed upon. Some Oregonians believe this program would have been extremely useful four years ago when the housing market first crashed and many homeowners simply lost their homes before all possibilities were explored. At this point, though rates are slowing, between 1,400 and 1,500 Oregonians enter default on home loans each month.
Read full article here: Foreclosure Mediation Seeks to Keep Homeowners Above Water