Mediation law helps reduce D.C. foreclosures

Foreclosures are slowing across the country, including in D.C., according to recent reports. The Saving D.C. Homes from Foreclosure Emergency Amendment Act of 2010 has played a role in this decline, along with other factors, including low inventory and strong demand.

The act requires mortgage lenders to send homeowners notice of default on their residential mortgage and give them the right to engage in mediation prior to foreclosure.