Florida Mortgage Mediation for Chapter 13 Debtors
For Chapter 13 debtors who want to keep their home and have sufficient income (at least 31 percent of net income) to commit to a modified mortgage, Florida offers a mortgage modification mediation program.
Florida Chapter 13 debtors can request mortgage modification mediation by filing a motion with the bankruptcy court. Your Chapter 13 bankruptcy attorney can assist you with this.
In the Florida mortgage modification mediation process, you and your lender will choose a mediator, who is a neutral third party, to help you reach an agreement. Mediation is an informal process, and is not held in a courtroom but usually in a mutually agreeable meeting place. The mediator works with you and your lender to come to an agreement on a reasonable modification of your mortgage loan. The mediator cannot force a lender to modify a mortgage.
The cost for Florida’s mortgage modification mediation program for Chapter 13 debtors is a $275 fee that must be paid to your Chapter 13 trustee prior to beginning the mediation process.
After a motion has been filed, the court has entered an order requiring mediation and the fee has been paid, you may need to provide your lender with more financial information that will help facilitate a decision to modify your mortgage.
If you are a Chapter 13 debtor and are interested in the Florida mortgage modification mediation program, consult with your Florida bankruptcy attorney.
Greg Gilbert
Keith Maynard
