The Illinois Supreme Court Mortgage Foreclosure Committee is seeking comment on proposed recommendations concerning loss mitigation and mediation for mortgage foreclosure proceedings in Illinois.The proposal will be aired at a public hearing on Friday, June 8 in Chicago.
Anyone wishing to testify at the public hearing should advise the Committee in writing no later than Friday, May 25. Those wishing to offer written comments should submit them by Friday, May 25.
In April, the Foreclosure Committee held a public hearing to discuss a nine-point proposal submit-ted by its Practices and Procedures subcommittee.
The Mortgage Foreclosure Committee has also established a Loss Mitigation and Mediation subcommittee which has drafted 14 proposed recommended elements of mediation and mandatory pre-foreclosure loss mitigation for comment at the public hearing.
Six proposed mediation program elements under consideration are outreach, mandatory or opt-in for mediation programs, housing counseling, legal aid, establishing a pre-mediation process and trained mediators. Some of those elements to be discussed include having the court system reach out to homeowners in foreclosure to increase awareness of local mediation programs; providing housing counseling as part of the mediation process; and providing pro bono legal services to explain the foreclosure process, mortgagors' rights, possible defenses and the rights and responsibilities of the homeowner under the Illinois Mortgage Foreclosure Law.