Measure Nullifies Local Foreclosure Ordinances

4 years 11 months 6 days ago Friday, July 12 2013 Jul 12, 2013 Friday, July 12, 2013 1:28:00 PM CDT July 12, 2013 in News
Source: The Associated Press
By: The Associated Press

JEFFERSON CITY (AP) - Gov. Jay Nixon is allowing a state law to take effect that will nullify foreclosure mediation ordinances in St. Louis city and county.

Nixon announced Friday that he would neither veto nor sign the bill. The governor's lack of action means the bill will take effect as law on Aug. 28.

The measure makes real estate loans subject to only state and federal laws.

It's intended to overturn local ordinances that require mandatory mediation between lenders and homeowners before foreclosures.

 

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