DE HB58

Establishes an Automatic Residential Mortgage Foreclosure Mediation Program for owner-occupied one-to-four family residential properties, requiring mediation conferences before judgments can be entered or sheriff's sales occur

Requires lenders to provide defendants with foreclosure mediation notices in English and Spanish, including information about housing counselors and the Delaware Attorney General's Foreclosure Hotline (1-800-220-5424)

Mandates mediation conferences be scheduled 45-75 days after notice is served, with defendants required to meet with a housing counselor and file a Certificate of Participation within 30 days

Requires plaintiffs to pay a court-determined mediation fee to fund the program, and prohibits judgment entry until the day after a scheduled mediation conference

Applies to foreclosure actions commenced from 120 days after enactment through two years after the effective date, responding to elevated foreclosure levels (over 6,000 filings in 2009 and 2010 versus historical average of 2,000)