According to the Providence Journal, a new report on a federal court plan set up to mediate Rhode Island’s foreclosure crisis shows that $4 million in fees has been paid by people currently in their homes while they fight foreclosures, and $903,000 has been spent on expenses for the program.
The report, filed by special master Merrill Sherman, covers the period since she was appointed in January 2012 to Oct. 15 and says there are still 744 active foreclosure cases pending in the court.
Last week, attorneys for a group of lenders objected to the latest bills for the mediation program — the most recent dispute between the bankers holding the mortgages on the foreclosed property and the court officials trying to resolve the crisis.
The lawyers also objected to the fact that the court has set no time or monetary limits on the mediation process.
