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Foreclosure ordinance passed in City of St. Louis

3:53 PM, Feb 8, 2013   |    comments
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ST. LOUIS (KSDK) - The St. Louis Board of Alderman have passed an ordinance on foreclosure mediation that mirrors St. Louis County's ordinance Friday.

This ordinance will allow homeowners in the City of St. Louis to receive third party mediation with their lender before their home is foreclosed, and requires the lender to tell the homeowner about this opportunity when providing notice of impending foreclosure.

Homeowners do not have to use the mediation, but it could be helpful to work with the lender to keep the home.

KSDK

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