Court-Ordered Mediation Helps Florida Homeowners Avert Foreclosure
As part of the foreclosure process in Florida, all primary residences are automatically sent into mediation.
Florida is currently averaging over 350,000 foreclosures annually. Last December, the state Supreme Court issued an administrative order to all 20 circuit courts to implement a mandatory mediation program in hopes of keeping more foreclosures off the court’s docket.
Unfortunately, the state’s budget has not kept pace with the need for more judicial staff, and Florida foreclosure mediators are just as overburdened with casework as the circuit court judges.
However, the good thing about Florida’s foreclosure mediation mandate is that it forces lenders to the table to negotiate in good faith with borrowers. The lender must bring all the relevant documents to the mediation session, including an itemization of what must be paid to catch up and pay off the loan.
According to a recent article in USA Today, the 18th Circuit Court in Brevard County has sent 317 cases to mediation and 59 of those have received a modified loan payment plan, thus staving off foreclosure.
If you are a Jacksonville homeowner who needs to know more about the Florida foreclosure laws, contact our Jacksonville, Florida foreclosure law firm.
Greg Gilbert
Keith Maynard
