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Foreclosure Meditation

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State Mediation Programs

  • Florida Foreclosure Media…
  • Nevada Foreclosure Mediat…
  • Washington Foreclosure Me…
  • Ohio Foreclosure Mediatio…
  • New Jersey Foreclosure Me…

Florida Foreclosure Mediation

Florida offers Foreclosure Mediation in the form of the state's Residential Mortgage Foreclosure Mediation Program, effective December 2009. Florida is a judicial foreclosure state, in which all new foreclosure cases

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Nevada Foreclosure Mediation

With Nevada being one of the hardest hit foreclosure states in the nation, and banks not working with struggling borrowers in good faith, borrowers often get pushed into foreclosure in

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Washington Foreclosure Mediation

The new law provides Washington homeowners facing foreclosure the opportunity to be referred by a housing counselor or attorney to mediation with their lender to review available options to keep

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Ohio Foreclosure Mediation

In December 2007, Chief Justice Thomas J. Moyer proposed that courts manage the increasing number of foreclosure cases being filed in Ohio by developing foreclosure mediation programs.

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New Jersey Foreclosure Mediation

New Jersey's Foreclosure Mediation process is limited to borrowers who have been served with a foreclosure complaint. The program is available free to all qualifying homeowners.

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Wednesday, 16 Apr 2014

What do I need to bring to the mediation session?

Proof of income, if employed; for example, a current pay stub, Profit & Loss statement if self employed or 1099, Bank Statements showing your income being deposited; List of expenses; Copies of an...

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What is Net Present Value (NPV)?

The NPV is a cash flow analysis that analyzes the value of your loan to the investor looking into the future. In a foreclosure scenario, it compares the cash flow expected in a foreclosure auction ...

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What is foreclosure?

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Foreclosure is the process a lender/servicer uses to repossess your home. Once you ...

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WHAT IS THE REST REPORT?

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The REST Report provides homeowners the only sure way to know whether they qualify for several types of loan modifications such as the Home Affordable Modification Program (HAMP), other types of commonly issued loan modifications such as a “Cap Modification” or Step-Rate Modification”.  The REST Report allows homeowners know the terms of the modification BEFORE they apply, AFTER they have applied, or if they have been...

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WHAT IS FORECLOSURE MEDIATION?

Foreclosure mediation is a process initiated by a number Judicial foreclosure and non-judicial foreclosure states, to allow borrower a forum to try and resolve their differences with their lender prior to a foreclosure.  This would be a borrower’s final opportunity to plead their case outside of a courtroom, and can often lead to saving the home. The Mediator is there to review the evidence you have, with an eye towards determining if a reasonable work-out is available that will benefit both parties and avoid a foreclosure sale.  The Mediator can require your bank to offer you a modification or other work-out scenario. The Challenge for the consumer is to provide new evidence that has not already been reviewed by the bank, that proves to the Mediator that it is in the Bank’s or Investor’s best financial interest (that NPV is positive) to modify the loan rather than foreclose on the home. If you can prove this, the Mediator will compel the bank to modify your loan. The best way to prove this is with a REST Report. For more information on the REST Report, see the tab above. Since each state has different Mediation Programs, please review the information on this site as well as your state government’s website to further review the Mediation Programs for your ...