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Business and Economics

Senate Passes Foreclosure Counseling Bill

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February 11, 2015 — TheStatehouseFile.com

INDIANAPOLIS – Foreclosure advice and counseling may still be available through most of 2017 as a bill to continue funding the programs moves to the House.

Sen. Jim Merritt, R-Indianapolis, authored Senate Bill 409, which would extend a $50 foreclosure filing fee through July 1, 2017.

Merritt said the Mortgage Foreclosure Counseling and Education Court Fee funds programs through the Indiana Foreclosure Prevention Network – IFPN – and pays for the training certification program for counselors who work with people struggling to pay their mortgages.

“We’ve come through a real foreclosure period in Indiana,” Merritt said. The goal is to continue to provide alternatives for those dealing with the threat of losing their homes.

According to 877gethope.org, homeowners who work with a counselor are 60 percent more likely to keep their homes than those who do not.

SB 409 passed the Senate 47–3. Sens. Brandt Hershman, R-Buck Creek; Mike Delph, R-Carmel; and Scott Schneider, R-Indianapolis, voted against the bill.

People struggling to make their home payments who meet certain criteria can take advantage of state programs by calling 1-877-get-hope or going to www.877gethope.org.

 

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