Florida’s foreclosure mediation program falls flat

The mediation program ordered by the Florida Supreme Court to prevent foreclosures has helped only 2,162 homeowners keep their homes. That's just 3.7 percent of 57,909 foreclosure cases sent to mediation statewide between March and November 2010.

The low number of settlements proves the program needs to be modified or eliminated; the biggest hurdle is that lenders have no incentive to reach settlements unless forced to do so.

And although the Supreme Court requires that bank representatives have full authority to approve mortgage workouts with homeowners, in most cases the banks just service loans owned by investors and lack the final authority to sign off on an agreement.

No one can make a decision and this report is a clear indication that we can't solve this problem without homeowners hiring an experienced Florida foreclosure defense attorney.

I have reached settlements in numerous cases but I find delaying the process until later in the foreclosure process helps borrowers overcome the obstacles that caused the default in the first place.

Begin protecting your family today; Call the Carman Law Firm  at 1-800-763-0775 or email us at info@carmanlegal.com, get answers you need and schedule an informative and free comprehensive consultation on how the Carman Law Firm can help you.    

The Carman Law Firm can assist those in need of  debt and mortgage relief.  With many options available and trusted answers to questions that someone might have about regarding  credit card debt,  short sales, loan modification, foreclosure and  strategic default.