Understanding foreclosure defense

What is mediation in a foreclosure?

Posted by -

A foreclosure mediation, or mortgage mediation, is where a homeowner, their legal representative, their lender, the lender’s attorney and an unbiased third party all meet. The purpose is to try to find an alternate solution to foreclosure that works for the homeowners and the lender alike.

The biggest benefit to filing for mediation is the opportunity to put a foreclosure on hold.  With mediation, the decision issued by the lender must be discussed before they can take any further action.  This means lenders cannot proceed with foreclosure until the mediation is formally closed and certified.

Since mediation extends the foreclosure timeline, you may be able to help yourself buy some time to make financial arrangements or decisions.

Other popular foreclosure defense questions

Comments (0)

Add Your Comment

Ark Law Group - Loan Modification, Short Sale, Debt Relief, Foreclosure Attorneys
What is mediation in a foreclosure?
Apply here to receive FREE legal help!

Quick Response Form