Half of borrowers unreachable for Miami-Dade foreclosure mediation program

Half of the foreclosure court cases referred to Miami-Dade County’s mediation pilot program have stalled because the borrowers are nowhere to be found, according to the Collins Center for Public Policy, which is running the program. More than 14,000 foreclosures have been referred for mediation since the program — an attempt to unclog the county court system — debuted May 1. Of those cases, roughly 7,000 have been unable to proceed because borrowers are unreachable, either having left the home or provided incorrect contact information, said Rod Petrey, president of the Collins Center. In cases where the borrowers were available, 65 percent have worked out their loans with lenders, he said. Last week, Florida Supreme Court Chief Justice Peggy Quince ordered homeowners and their lenders to pursue mediation and compromise before entering foreclosure proceedings. [Miami Today News]