Florida Supreme Court orders mediators to be first step in foreclosure cases
Florida’s troubled homeowners and their lenders will increasingly meet at the bargaining table under a state supreme court order issued today that aims to reduce a foreclosure overload.
The administrative order written by Chief Judge Peggy Quince creates a statewide program that requires mediation on all homesteaded properties before a foreclosure hearing is held.
It guarantees homeowners will have an audience with their lender to discuss whether a loan modification or short sale is an option instead of foreclosure.
It also means lenders will be doing more work on the front end of the foreclosure process, and paying for it.