Mediation

Independent Research Studies Validate Benefits of Mortgage Counseling

Posted on Thursday, June 30, 2011

Housing counseling increases the likelihood a homeowner will be granted a loan modification by 200 percent, according to research from the Federal Reserve. The central bank also found that counseled borrowers received more favorable terms on their loan modifications compared to borrowers who go it...

District of Columbia Department

Posted on Monday, April 25, 2011

> Although this is not a joke in the traditional sense, it did make me laugh out loud. > Regardless of bad things get, just be happy you're not a servicing manager in the > District of Columbia trying to comply with the new "District of Columbia Department > of Insurance, Securities, and Banking'...

Foreclosure mediators: Banks pushed us to fail

Posted on Wednesday, March 16, 2011

Florida's Supreme Court sought a foreclosure lifeline in forcing banks and borrowers to mediation. It was hoped a judicial referee could help unclog court dockets and free struggling borrowers. But in documents obtained by The Palm Beach Post and described in a recent court order, mediators complai...

Palm Beach County, Florida

Posted on Thursday, February 24, 2011

TIMELINE for Mediation Program Residential Mortgage Foreclosure Mediation Program 15th Judicial Circuit of Florida, Palm Beach County Suit is filed: - Form “A” must be completed and filed with the Complaint in all residential mortgage foreclosures - The “Notice to Borrower” is served on the De...

Plam Beach County, Florida Info for Homeowners

Posted on Thursday, February 24, 2011

What is foreclosure? Foreclosure is a legal process by which the mortgage holder causes the judicial sale of the secured real estate to pay a defaulted loan. The mortgage on real estate acts as collateral for the repayment of the loan so when this loan is in default, the mortgage holder exercises i...

Plam Beach County, More on Mediation

Posted on Thursday, February 24, 2011

PALM BEACH COUNTY BAR ASSOCIATION RESIDENTIAL MORTGAGE FORECLOSURE MEDIATION PROGRAM SUITE 304 EAST 1601 BELVEDERE ROAD WEST PALM BEACH, FL 33406 (877) 822-4084 www.palmbeachbar.org PATIENCE A. BURNS, CAE EXECUTIVE DIRECTOR MEREDITH TRIM DIRECTOR OF MEDIATION REPLY TO: MICHAEL J. NAPOLEO...

How to Have a Successful Mediation

Posted on Thursday, February 24, 2011

On July 12, 2010, the 15th Circuit in and for Palm Beach County implemented a managed mediation program for all homesteaded residential foreclosures filed after July 12th. The following are some helpful tips to ensure you have access to the Residential Mortgage Foreclosure Mediation Program (RMFM) a...

Nationwide Look

Posted on Thursday, February 24, 2011

A detailed report on foreclosure mediation programs nationwide from the Center for American Progress (CAP) states that the number of jurisdictions with foreclosure mediation programs has increased from 11 to 21 in a year. Pending legislation in additional states will boost the number further....

Begins in Palm Beach

Posted on Thursday, February 24, 2011

Beginning Monday, Palm Beach County homeowners facing foreclosure will be guaranteed a chance to negotiate a different ending with their lenders as the courts try to reduce a foreclosure overload. All foreclosures filed on or after Monday are subject to a new state Supreme Court order requiring m...

Florida Overview

Posted on Thursday, February 24, 2011

How does Florida foreclosure mediation work? Florida passed a law requiring banks to allow homeowners the chance to meet with them to try to resolve their delinquent mortgages without having to go through the already overcrowded courts. Homeowners meet with their lender and a third party, the media...

Plam Beach Success...Not

Posted on Thursday, February 24, 2011

Florida homeowners have had scant success in the state's required foreclosure mediation program with just 6 percent leaving the negotiating table with a resolution. The first statewide measure of the program, which the Florida Supreme Court made mandatory one year ago, was released Wednesday with...

You Gotta Show Up

Posted on Thursday, February 24, 2011

About 40 percent of Palm Beach County homeowners eligible for foreclosure mediation are unreachable, unresponsive, or choose not to participate in the new program. Run by the Palm Beach County Bar Association and free to homeowners, the arbitration program began in July with the intent to help av...

Problmes qwith Nevada's Program

Posted on Monday, September 20, 2010

NEVADA — One of the states where home prices went stratospheric during the housing mania — is now reporting some of the nation’s most horrifying foreclosure figures. Last week, RealtyTrac said that 1 in every 84 households in the state had received a foreclosure notice in August, 4.5 times the natio...

FNMA in Florida

Posted on Wednesday, September 15, 2010

Fannie Mae recently issued a new servicing guide regarding pre-foreclosure mediation for mortgage loans in Florida. Last December, the Florida Supreme Court issued an administrative order mandating mediation sessions before a summary judgment or foreclosure sale can be held. The statewid...

Commercial Case 85% Success Rate

Posted on Wednesday, January 27, 2010

I recently met with one of the many Florida judges handling foreclosure cases and learned: Commercial filings are going thru the roof. Bu they are seeing 80 to 85 percent success rate in mediation and are thus -happy to order mediation at any stage of case. ...

Florida Mandatory Mediation Process

Posted on Wednesday, January 13, 2010

Administrative Order No. 09-08 established mandatory Homestead mediation in Miami Dade (11th Circuit), referred to as the CHAMP program. In summary the Order provides for appointment of a Mediator as follows; (1) Within 10 days of the order of referral, the parties may agree upon a Stipulation...

Florida Supreme Court Orders Mediations

Posted on Tuesday, December 29, 2009

A Homeowner’s Guide to Florida’s Foreclosure Mediation Process Now that the Florida Supreme Court has ordered that Banks foreclosing on homes in Florida try to resolve the mortgage loan default by mediating a loan modification, many of you may have some important questions. Here are some answers ...

The Case for Mediation

Posted on Sunday, October 11, 2009

Some estimate foreclosures can be reduced by 75% if the Fed take a more active role in making mediations happen. 9 states now use mediation 3.4 of all cases avoids foreclosure. ...

Summary By State

Posted on Friday, May 22, 2009

The following list of foreclosure mediation programs was provided by the American Bar Association: Foreclosure Mediation Programs Connecticut: The legislation mandates that homeowners facing mortgage foreclosure on primary residences may request mediation at no charge to them. The following link...

Mandatory Mediation in Florida?

Posted on Thursday, April 23, 2009

The Florida Supreme Court has announced a statewide task force to look into uniform mandatory mediation statewide. Ohio has been doing this for about a year and New Jersey, Nevada, Minnesota, Connecticut and other states are looking into it. Last month they received an emergency petition asking th...

Pros and Cons

Posted on Friday, April 17, 2009

Pros A mediator helps both sides in a dispute evaluate their positions and goals, and negotiate a solution acceptable to everyone. A mediator does not take sides or make decisions. If you reach an agreement with an opposing party through mediation, you can make it legally binding by enter...

The Benefits of Mediating Commercial Real Estate Forelcosure Actions

Posted on

Commercial real estate foreclosure cases in particular benefit from early mediation and repeat mediation sessions perhaps more than any other type of case. This is because in most cases now the asset is illiquid. In other words, no one wants to buy it. If the bank doesn't want to own it (and most ...

FORECLOSURE MEDIATION HELP BY STATE

Posted on

In response to the foreclosure crisis currently facing Florida, a number of individual judicial circuits have developed administrative procedures to give borrowers additional time and assistance in avoiding foreclosure. - In the Fourth and Seventh Judicial Circuits, Duval and St. Johns County ju...

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