Comments for Foreclosure legal services

Click here to add your own comments

Foreclosure Mediation
by: Judy Law

According to a 12/19/2011 article in the Miami Herald:

"Florida’s mandatory foreclosure mediation program has been terminated, according to a letter signed Monday by Supreme Court Chief Justice Charles Canady.

The program, established in 2009, required lenders to participate in a mediation process with struggling borrowers prior to repossessing a home. In October, a task force of judges recommended that the program be ended, due to its low success rate.

Earlier this year, a report showed that only 4 percent of cases eligible for mediation ended in a settlement.

In many cases, borrowers were not contacted. When they were, the success rate for mediation settlements rose to 27 percent. Settlements can include a loan modification, short sale or deed-in-lieu of foreclosure.

Cases currently in line for mediation will continue, but no new cases will be referred to a mediation under the state’s mandatory program."

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Ask The Members.

Return to Foreclosure legal services.

Copyright 2010-2023. All rights reserved.