Week One Of Philadelphia's New Foreclosure Diversion Program

In Philadelphia, Pennsylvania, a column in Philadelphia City Paper describes the first week of the city's new Residential Mortgage Foreclosure Diversion Pilot Program. Reportedly, the program may have gotten off a bit slow out of the starting gate, and some of the attorneys for the foreclosing mortgage companies are expressing concern about unreasonable delays. An excerpt from the column describes the hectic nature of the first week of the proceedings:

• Lines of borrowers began to form. Extra lawyers were called in, and housing counselors found themselves taking on a flurry of new clients. The scene looked more like a social service agency than a courtroom. Judge Rizzo, who oversaw the process, was thrilled with the turnout. "It's organized bedlam," she admitted, "but that's a positive -- because at least we're getting these cases into the theater."

For more, see Changing the Rules (Can Philadelphia's bold experiment in preventing foreclosures work?).

Go here for other posts on the Philadelphia Residential Mortgage Foreclosure Diversion Pilot Program.