Mediation & More

BRITANIA  MEDIATION GROUP, INC.

FORECLOSURE MEDIATION FREQUENTLY ASKED QUESTIONS

What is foreclosure mediation?

Who are the mediators?

Why mediate a foreclosure?

Who has to be present at the mediation?

What documents are needed for the conference?

If no agreement is reached?

 

1.    WHAT IS FORECLOSURE MEDIATION?

Foreclosure mediation is the process whereby a neutral third person a mediator, assists a homeowner/borrower and Lender to try and reach an agreement where the owner-occupied, residential property is the subject of a mortgage foreclosure action. The property must be located in the state of Florida and be the homeowner’s primary place of residence.

 

2.    WHO ARE THE MEDIATORS?

Florida Supreme Court certified Circuit Civil mediators are trained in mediation and foreclosure law to help the parties and attorneys look at the dispute more objectively and discuss various options as presented by the parties in order to work out a mutually acceptable solution. The mediator does not make a decision, judge or make a recommendation on the outcome of the mortgage dispute.

 

3.    WHY MEDIATE A FORECLOSURE ACTION?

People may face foreclosure for many reasons. Among them are extreme changes in life situations such as death, divorce, prolonged illness, job/income loss or because they must immediately relocate. An experienced mediator may help the parties during the mediation process find a creative solution that may have been overlooked. While a foreclosure case is pending, or where a homeowner is slightly behind in payments, mediation may provide the necessary link that is needed between the homeowner/borrower and Lender to enter into vital discussions to try and come to an agreement. With the assistance of a mediator the mediation process provides an opportunity for each party to talk privately with the mediator for the parties to try and reach a solution as opposed to a possibly tense or difficult one on one negotiation. 

 

4.    WHO HAS TO BE PRESENT AT THE MEDIATION?

All borrowers who signed the mortgage need to attend the mediation session. For example; If a husband and wife signed the mortgage, then both will need to be present for the mediation.

 

5.    WHAT DOCUMENTS ARE NEEDED FOR THE CONFERENCE?

Completed Financial Disclosure form

Credit Report

Previous Year’s Tax Returns

Proof of income

Most recent bank statement

Current utility Bill(s) for Property in Foreclosure.

 

6.    WHAT IF NO AGREEMENT IS REACHED?

The parties may require further additional information, confirmation or clarification on certain issues before an agreement is entered into. The parties may agree to further negotiations or the case may proceed to be litigated in court.

DISCLAIMER  

Britania Mediation Group Inc., web site has been created for information purposes only and is not guaranteed to serve as a substitute for seeking informed Legal advice.  A party should not act or rely upon any information received from this site without first seeking professional legal counsel on the matter in dispute.