Floriduh | Only 1% Helped Statewide in Foreclosure Mediation Program

Only 1% helped statewide in foreclosure mediation program

TAMPA – It was supposed to help clear the courts of foreclosures and help people keep their homes.

But the court-mandated foreclosure mediation program in Hillsborough County has only lead to four of 492 eligible cases being resolved during the program’s first four months.

It’s not simply that homeowners were uninterested.

Mediators complain of calling borrowers only to find they haven’t yet been served with the lawsuit. Often, by the time the homeowner gets the suit and decides to mediate with the lender, their case has already been transferred back to court, said Michael Bridenback, court administrator for the Hillsborough court.

“It’s not working as well as we all intended,” Bridenback said. “You really have to hold the lawyers’ feet to the fire.”

Hillsborough’s mediators aren’t the only ones running into trouble. The state’s foreclosure mediation program, required by the Florida Supreme Court, has produced such scant results that some question whether it’s a waste of time.

Statewide, there were 13,417 cases referred to mediation between March and June, according to a state report. Of those, 768, or 1 percent, resulted in the borrower and lender coming to an agreement. That could include a loan modification or a short sale.

Check out the rest here…

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4closureFraud.org

Comments
5 Responses to “Floriduh | Only 1% Helped Statewide in Foreclosure Mediation Program”
  1. In Question says:

    What if a mortgage company DOES offer a loan mod very quickly (about 4 days after request)? What does this mean? Why so fast? Payment offered is only about $100/month less with rate at 2% for 5 years, then increases to current rate as of today (4.11%) and stays fixed thereafter. Take it?

  2. l vent says:

    Some people do not realize or understand that the banks did us all a favor by NOT giving us loan mods. A loan mod would have had to be given on the basis of fraud . Our homes are paid for and have been paid for since the Origination of the loan. The banks know we DO NOT owe them or anyone ANY money due to a “secret deal” they made with homeowner’s. In order to create wealth on Wall Street they used OUR paid off collateral and charged us all a nominal fee for our homes and mortgages to create this incredible amount of wealth for themselves and the top 1%(HUNDREDS OF TRILLIONS). The Government must halt all FRAUDCLOSURES. Our homes are paid for, THANK YOU VERY MUCH TO THE BANKERS WHO MADE THIS ALL POSSIBLE. How American of them. Now, that is how FREE MARKET CAPITALISM should work. Everyone that PARTICIPATED IN THE PONZI SCHEME (ALL OF US PROPERTY OWNER’S,RETIREMENT FUNDS SUCH AS 401 K’S AND OTHER INVESTMENTS ARE INCLUDED) should benefit from the CREATION OF WEALTH. Not just the top 1% who are just being INCREDIBLY GREEDY and are trying to use the banks as SCAPE GOATS trying to make the banks STEAL HOMES FROM PEOPLE THAT THEY ABSOLUTELY DO NOT OWN. OUR GOVERNMENT MUST STOP THE TYRANNY OF IT’S OWN PEOPLE.

  3. No surprise here. Most counsel for the defendant simply see Mandatory Mediation as an occasion to ask if Plaintiff wants to modify the loan. The plaintiff’s attorney says “No.” Once again, no surprise. Unless mandatory mediation is used as an adjunct for mortgage defense litigation, it can be pointless. What makes Mandatory Mediation potentially useful in the negotiation of an alternate dispute resolution is its use for discovery. See my materials at the Documentary Clearing House web site. Since the the plaintiff will resist production of documents, mandatory mediation represents a vehicle to stop foreclosure proceedings and induce th plaintiff to reach an alternate compromise.

  4. l vent says:

    We own our homes FREE and CLEAR because of the BIGGEST PONZI SCHEME IN HISTORY. That is why there are no LOAN MODS. THE MORTGAGE DEBT DOES NOT OR NEVER DID EXIST. OUR HOMES HAVE BEEN PAID FOR SINCE THE ORIGINATION BY US VIA A BANK FOR A NOMINAL FEE. GOD BLESS AMERICA!!!!

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