On Thursday, a temporary restraining order was issued to prohibit St. Louis County from implementing or enforcing an ordinance that would ""require lenders to notify borrowers"":http://dsnews.comarticles/st-louis-county-passes-foreclosure-mediation-ordinance-2012-08-31 of their right to mediation, ""South & Associates, P.C."":http://www.southlaw.com/ announced Friday in an email to clients.[IMAGE] [COLUMN_BREAK]
The Mortgage Bankers Association of Missouri filed a lawsuit on September 24, requesting the restraining order to prevent implementation of the ordinance, which was scheduled to take effect September 28.
The ordinance, known as Ordinance No. 25,190, assesses a fine of up to $1,000 for lenders who violate the ordinance.
The court scheduled a hearing on a Motion for Preliminary Injunction October 15, South & Associates stated.
South & Associates specializes in protecting the rights of creditors and has offices in Overland Park, Kansas; Wichita, Kansas; St. Louis, Missouri; Omaha, Nebraska; and Des Moines, Iowa.