Impact Article

3 Ways to Succeed in the Residential Mortgage Foreclosure Mediation Program:

02.08.2011
Posted by Noelle Smith of Legal Aid Society of Palm Beach County
3 Ways to Succeed in the Residential Mortgage Foreclosure Mediation Program: picture

  1. Do not wait to be contacted by the Palm Beach County Bar Association. The Plaintiff (lender) provides your last known contact information to the Bar Association. The Bar Association will call you and send letters to your last known address explaining the program. However, because phone numbers change and the information provided may not always be accurate, do not wait to be contacted. Instead, as soon as you receive your Summons and Complaint, begin the program by calling 866-900-4254.

  2. Complete housing counseling and submit financial release to the Bar Association You are required to complete a one hour housing counseling session prior to mediation. The housing counselor from Consolidated Credit will assist you in completing your financial worksheet (budget). In order to continue in the program, you must sign the release located on the third page of the financial worksheet and submit it to the Bar Association. The release allows the Bar Association to provide your budget to your lender. Failure to sign and return the release will result in a Notice of Non-Participation being filed with the Court and you will not move forward to Mediation.

  3. Contact your lender's attorney and find out what documents they need to review in order to consider you for a loan modification, short sale or deed-in-lieu at mediation. Every lender requires different financial disclosures. Contact the Plaintiff's attorney prior to mediation and ask what specific documents their client (your lender) requires in order to consider you for a loan modification, short sale or deed-in-lieu of foreclosure. If you do not have the right documents and disclosures at mediation, you will most likely not receive a modification, rather a request to resubmit your information on the proper forms.

*If the property is your primary residence and you meet certain financial guidelines, the Legal Aid Society of Palm Beach County's Pro Bono Department can assist you in obtaining a pro bono attorney to represent you at mediation. Please call 561-655-8944 Ext. 326 for more details.