The Real Deal Miami

Many PB homeowners skip mediation

November 09, 2010 11:15AM

Around 40 percent of Palm Beach County homeowners in foreclosure who are
eligible for mediation are not responding to a new program run by the
county’s Bar Association. The association’s free arbitration program was
intended to help foreclosed homeowners avoid foreclosure through
options like short sales and loan modifications. Of 3,2000 homeowners
who received an initial foreclosure notice and been notified about the
program, however, 1,300 have been listed as not participating. Michael
Napoleone, president of the Palm Beach County Bar Association, said it
has been so difficult to reach some homeowners that an original 30-day
deadline to contact them has been extended to 60. [Palm
Beach Post]