Mortgage Foreclosure

1) Borrowers forms

1. BORROWER's request for lender's disclosure information
2. Borrowers Request to Participate
3. Florida Residential Mortgage Foreclosure Mediation

2) Lenders forms

1. Florida Residential Mortgage Foreclosure Mediation
2. MediationAgreement

Due to the economy recession, rising unemployment, real estate market collapse and mortgage industry deepening crisis many Americans are going through extreme financial difficulties and are frequently unable to maintain payments of their financial commitments undertaken in the past https://experience.tripster.ru/experience/Kazan/15653-kvesty/. The tragedy of mortgage foreclosure crisis has reached the national proportions and is estimated in millions of properties being subjected to foreclosure by lenders. Especially the catastrophic numbers of foreclosures are in Arizona, Nevada, Florida and California. The goal of Mortgage Foreclosure Mediation is to try keeping as many Americans in their homes as possible, while still satisfying the lender’s requirements. This is an extremely delicate, difficult and not always possible task is to deal with for years to come.

Our experienced mortgage foreclosure mediators are certified Circuit Civil mediators who have completed extensive specialized training and certification in mortgage foreclosure law and mortgage modification. These experts are also trained and approved by the Collins Center for Public Policy and AAA (American Arbitration Association).

In general, the foreclosure mediation process allows borrowers to meet with their lenders to attempt to renegotiate the terms of their mortgage. Most often foreclosure is occurring because the borrowers were unable to meet the repayment terms of their original mortgage. A mediation process will allow the borrower to explain their circumstances. Mediation can be extremely effective in cases like this because it not only eliminates any fear or intimidation the borrower is experiencing, but it brings both parties together in an informal, neutral setting.

The mediator will try to discern whether or not modifying the loan terms will remedy the situation. In some cases, that would be sufficient to allow the borrower to stay in their home and the lender to be assured of collecting the loan payments. Other times, another solution may be best – such as the short sale of the property, or deed in lieu of foreclosure. After listening to the concerns of both parties, the mediator will determine the most appropriate and reasonable solution for both parties if both parties will agree to the resolution.

Foreclosure rates throughout the country continue to increase and Florida is suffering through one of the worst real estate slumps in the nation, reaching almost half a million number.

The Florida Supreme Court has recognized the plight of their fellow Floridians, so in late and on December 28, 2009 mandated that any Floridian who is in danger of losing his or her home due to foreclosure must attend mediation. In addition to making the foreclosure process less daunting for homeowners, this Supreme Court Order will also help reduce the foreclosure overload that is currently bogging down the Florida court system.

Since foreclosure mediation is a state mandate, certain guidelines must be followed when conducting foreclosure mediation:

• Homeowners must meet with a foreclosure counselor before they are eligible for mediation.    This counselor must be approved by the U.S. Department of Housing and Urban    Development.

• Mediators must be Circuit Civil Court certified and undergo a special training in mortgage    foreclosure mediation.

• Mediators are required to schedule sessions no less than 60 days and no more than 120 days   after the filing of the foreclosure case.

• Lenders are required to pay a $750 fee up front, which may be recovered in the final    judgment if mediation fails.

• The house in default must be the homeowner's primary place of residence and the loan must    have originated under the federal truth-in-lending regulations.

Exceptions to the mandatory foreclosure mediation will be granted if the borrower and the lender reach an agreement to forego mediation, if previous mediation efforts were unsuccessful, or if the homeowner has moved and cannot be located.