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Keyword: philadephiamortgages

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  • Philadelphia Gives Homeowners a Way to Stay Put (without paying their mortgages)

    11/18/2009 3:23:26 AM PST · by reaganaut1 · 32 replies · 932+ views
    New York Times ^ | November 17, 2009 | Peter S. Goodman
    ... Under the rules adopted by Philadelphia’s primary civil court, no owner-occupied house may be foreclosed on and sold by the sheriff’s office before a “conciliation conference,” a face-to-face meeting between the homeowner and the lender aimed at striking a workable compromise. Every homeowner facing a default filing is furnished with counseling, and sometimes legal representation. ... When homeowners in Philadelphia receive legal default notices from their mortgage companies, the court system schedules a conciliation hearing. Canvassers working for local nonprofit agencies visit foreclosed homeowners, distributing fliers that inform them of their rights to a conference, and urging them to...