Proposed ‘Certificate of Merit’ bill aims to help foreclosure victims

New legislation seeks to help Bronx homeowners who are facing foreclosure.

New legislation seeks to help Bronx homeowners who are facing foreclosure. (7/25/13)

THE BRONX - New legislation seeks to help Bronx homeowners who are facing foreclosure.

The "Certificate of Merit" bill would make banks give foreclosure victims the right to court-mediated settlement conferences in an effort to keep their homes.

Otherwise, officials say banks are taking advantage of homeowners in foreclosure with so-called "shadow dockets" of interest charges and late fees.

Officials say the legislation is in its final stages.

Gov. Andrew Cuomo requested the bill last week. It is currently on his desk, and politicians hope he will sign it into law in the coming weeks.

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