mediation http://news.stlpublicradio.org en Lenders challenge foreclosure legislation in St. Louis City http://news.stlpublicradio.org/post/lenders-challenge-foreclosure-legislation-st-louis-city <p>A new ordinance could offer struggling St. Louis City homeowners an option to help avoid foreclosure.</p><p>The program would extend a loan mediation process to any homeowner who requests it from their bank, just like the one passed two weeks ago in St. Louis County. Ignoring this request would cost a lender a $500 fine.</p><p>But, banks claim the laws violate state statutes prohibiting government intervention into the foreclosure process.&nbsp; They say it would mean fewer loans and increased costs.</p><p>St. Louis Mayor Francis Slay disagrees.</p> Wed, 12 Sep 2012 22:13:11 +0000 Adam Allington & Tina Eaton 4585 at http://news.stlpublicradio.org Lenders challenge foreclosure legislation in St. Louis City