Mandatory Mediation Available On Request For Indianapolis-Area Homeowners Facing Foreclosure

In Indianapolis, Indiana, The Indianapolis Star reports:

• Marion Superior Court has passed a new local rule that allows homeowners facing foreclosure in civil court the option of settlement conferences, or mediation, with their financial lenders. The conferences are mandatory for lenders if the borrower responds to a notice from the court. The borrower must reside in the house facing foreclosure. Local housing experts estimate that one in 220 Marion County homes is in some state of foreclosure.

Source: Foreclosure mediation OK'd.