SB 370 - This act places a moratorium on foreclosures of real property for one year from its enactment. Before foreclosure, a creditor shall notify defaulted debtors that they are in default no earlier than 60 days after default and that they have the right to participate in free mediation services administered by the Division of Finance, whereby the division will meet with the creditor and debtor in an attempt to restructure the loan payment schedule or otherwise agree upon a method to cure the default. Creditors may commence foreclosure 60 days after notice of default and right to seek mediation service or 30 days after the debtor and creditor first meet in mediation, whichever is later. CHRIS HOGERTY