Brennan Center Argues in Support of Rhode Island Foreclosure Settlement Program

Mark Ladov argued in support of the Rhode Island district court’s foreclosure settlement program in the First Circuit Court of Appeals. The program helps borrowers and lenders negotiate affordable loan modifications that restore value to distressed mortgage loans and keep families in their homes.

February 6, 2013

Mark Ladov argued in support of the Rhode Island district court’s foreclosure settlement program in the First Circuit Court of Appeals this week. The program, which is being challenged by some banks’ attorneys, helps borrowers and lenders negotiate affordable loan modifications that restore value to distressed mortgage loans and keep families in their homes. The Brennan Center filed an amicus brief in support of the settlement program.

“Rhode Island, like much of the nation, continues to grapple with the enormity of the foreclosure crisis,” Mark Ladov said after arguments. “Facing hundreds of lawsuits, and the possibility of many Rhode Island families losing their homes, the federal court set out an efficient and equitable solution. By appointing a Special Master to oversee negotiations between banks and homeowners, the court is helping families save their homes, restoring income to loan investors, and reducing the cost of unnecessary foreclosures to communities and to the economy. We hope the Court of Appeals will encourage this important work to continue.”

Listen to the oral argument

Read the amicus brief