How Florida Mortgage Mediation Works
In 2012, the United States had reached the mid-point of a highly-devastating foreclosure crisis; over 10M homes were estimated to be lost and Florida was one of the hardest-hit states. Last year, the Sunshine State led the country in foreclosure activity and topped the rankings (with its foreclosure rate of 1 in 33 homes), even as lenders as well as judges moved in a very aggressive manner to reduce the massive backlog of foreclosure cases.
Though new filings are now on the downtrend, the judiciary is still wading through the flood of older filings. In Broward County alone the properties that are scheduled for auction has jumped by 72% compared to the 2012 figures. The fact is that millions of homeowners have been displaced due to foreclosures. But there is an inexpensive solution for this issue.
The Effective Tool
It has been proved that the states which have begun adopting very strong foreclosure mediation programs can go a long way in keeping the paying borrowers in their homes for the long-term. Investors and tax-payers are also benefited as mediation saves millions of dollars for them. Florida Mortgage Mediation is an effective and inexpensive tool and a non-binding process where the lender and the borrower, mutually attempt to find an acceptable resolution to their specific dispute.
The Distinct Benefits
William C. Sussman Esq. is reputed in Miami-Dade, Monroe, Broward, Palm Beach and throughout South Florida for handling Mortgage Mediation Miami in the most efficient and level-headed manner. Lenders and borrowers have the option to mediate before the mortgage lawsuit is filed. There are a number of benefits to this kind of mediation, such as:
- Less Hostile Environment – Since both the parties agree mutually to work towards mediation, the environment automatically becomes less hostile and thus more conducive for a resolution
- Faster Process – With an experienced mediator handling the proceedings, some mediations may be wrapped up in a matter of hours and days versus the years that it might take for the courts to reach a solid decision
- Cost-Effective – When the mediation is handled in an effective and efficient manner in the least possible time, it also means that you end up paying less hourly fees.
Hiring a neutral party to resolve the dispute is a great way of ridding the proceedings of biases and reaching a point where both parties can explore various options, and are able to live with the outcome. When you have William C. Sussman Esq. handling the process, the key advantage is that you have an astute, experienced, knowledgeable and highly-talented attorney who is determined to see a successful outcome. Contact us and see what a difference it will make to the situation you are currently in.