The Finger in the Dike: State and Local Laws Combat the Foreclosure Tide
By Geoff Walsh, February 8, 2012
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The foreclosure crisis has forced state and local governments to find remedies to control the rising tide of foreclosure. Several states have, in response to the recent crisis, enacted legislation requiring the lender to discuss alternatives with the lendee prior to foreclosure, or have made foreclosure contingent on mandatory mediation. Despite these efforts, states have not effectuated their maximum constitutional power to require mediation and mitigation of foreclosure disputes.
