The Real Deal Miami

Countywide mandatory mortgage mediation program sees success

October 20, 2009 03:54PM

Hundreds of Miami-Dade County homeowners have avoided foreclosure through the 11th Circuit Homestead Access to Mediation Program, which requires lenders to negotiate with borrowers before foreclosing on a home. There’s plenty of demand for the program, which began May 1. It’s managed to get settlements in 465 of the 599 cases scheduled for mediation. The program, which is mandatory in three of Florida’s 20 judicial districts, has led to settlements in 1,072 of the 1,401 cases scheduled for mediation statewide. [Miami Herald]