DC: Emergency Legislation Delays Residential Foreclosures
Yesterday, the Mayor signed sweeping emergency legislation in the form of Bill 18-1067 (Also known as Act 18-0599) requiring that Notices of Foreclosure not be filed unless accompanied by a Certificate of Mediation issued by the Dept of Insurance, Securities and Banking. The mediation period can be up to 3 months (period is shortened if occupant fails to request the mediation or fails to participate) and affects all residential owner-occupied (including 4 units or less if one unit is owner-occupied). This emergency legislation will expire on February 15, 2011. The permanent version, Bill 18-691 is pending (since legislation not passed by December 31 expire, it may be introduced in 2011 with a different number beginning with “19”).
To read full article, please click here.
|
