Bankruptcy Mandatory Mortgage Mediation: Intro #1

As of April 1, 2013, an individual who files bankruptcy in the Southern District of Florida has the right to require mandatory mortgage mediation.  The bankruptcy judges have entered a local rule authorizing debtors to file a motion to obtain an order requiring lenders to participate in mandatory mediation in Chapter 13 bankruptcies to try to obtain a successful mortgage modification.

This program is expected to be highly successful unlike the failed mandatory state court foreclosure mandatory mediation program.

There are many reasons why this program is expected to be a successful program and may help homeowners save their homes.  I will be providing a series of posts on this new mediation program that I hope will be informative.

 

 



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