Panel says state foreclosure mediation program should end
Oct 25, 2011
The following article was published in The Florida Current on October 25, 2011:
Panel says state foreclosure mediation program should end
Despite a backlog of at least 350,000 foreclosures in the state, a judicial committee recommends that a Florida Supreme Court mediation program designed to keep people in their homes be ended, the St. Petersburg Times reports.
The panel recommended the program’s demise because it hasn’t done the job, the story says.
“Successful mediations occurred in less than 4 percent of statewide cases. A report presented to the high court said three main factors led to the program’s demise: borrowers not trusting the program; lenders not willing to settle cases in mediation; and officials not publicizing the program.”
Local officials, however, say they would like at least part of the 2-year-old program, which charges lenders $750 per case, to continue.
Find this article here: http://www.thefloridacurrent.com/article.cfm?id=25127327