The Household Mortgage Foreclosure Diversion Pilot Program and its own Effect On Seniors

The Household Mortgage Foreclosure Diversion Pilot Program and its own Effect On Seniors

The Household Mortgage Foreclosure Diversion Pilot System

The Residential Mortgage Foreclosure Diversion Pilot Program in April 2008, in response to an alarming increase in the number of residential mortgage foreclosures filed and sheriff sales of homes scheduled, the Philadelphia Court of Common Pleas issued a General Court Regulation which authorized the Court to implement a new case management Program.

This system ended up being envisioned as an intervention that is early to permit property owners possibilities to avoid foreclosure by means of varied federal, state and regional programs to facilitate loan work-out and/or reinstatement, when possible.

The procedure began with postponement associated with the situations from the April 2008 and May 2008 Mortgage Foreclosure Sheriff purchase list. […]