HETHERINGTON SEEKS TO IMPROVE BANK-HOMEOWNER RELATIONSHIP DURING FORECLOSURE

HARTFORD- State Rep. John Hetherington, of New Canaan and Wilton today attended a bipartisan press conference on legislation proposed by the Judiciary Committee requiring banks to work directly with homeowners during foreclosures.

SB 225, An Act Concerning the Duties of a Mortgagee in a Foreclosure Action on Residential Real Property, facilitates communication during foreclosure proceedings by requiring that a bank employee be designated to work directly with a homeowner in mediation to end the proceedings quickly and efficiently.

“This legislation encourages banks to name a specific person in their organization to deal with each homeowner who is in danger of foreclosure,” said Rep. John Hetherington, a member of the legislature’s Judiciary Committee. “It is hard enough to reach a real person at one of these large banks, and nearly impossible for a homeowner to reach the same person again. This defeats the mediation process and needs to change.”