Many property owners threatened with foreclosure find it almost impossible to communicate with lender representatives, and lenders find it difficult to obtain necessary information from borrowers. In many cases, the first opportunity the parties have to discuss the issues and attempt to resolve these matters is at a hearing on the lender's Motion for Summary Judgment, or later at the foreclosure sale. By that time in most cases, all judicial labor has been expended and the costs and attorney fees have significantly increased. The failure of the parties to communicate in a timely manner results in unnecessary waste of court resources and could be avoided by resolving these issues through mediation.
Many have united working toward the solution to assist in ending this foreclosure crisis. The Foreclosure Mediation Program is designed to assist the housing and real estate industry and reduce the current strain on the court system. By working with lenders and borrowers the goal is to resolve problems through the use of mediation instead of litigation, saving money for all concerned.