philadelphia mediation plan: Philadelphia Plan
- 08/06/08 02:19 PM
Did anyone else hear about the plan in Philadelphia that prohibits any foreclosure action by a mortgage lender until the lender representative sits with the homeowner in a mediation session monitored by a professional mediator, often a judge. The people being interviewed were quite positive in their reviews. For example, a mortgage lender representative said that for the first time rather than a foreclosure procedure being a lose - lose situation for both the homeowner and the lender, the mediation process was often successful in working out a collaboration that modified the mortgage rates and terms so that the homeowner could … (3 comments)
Did anyone else hear about the plan in Philadelphia that prohibits any foreclosure action by a mortgage lender until the lender representative sits with the homeowner in a mediation session monitored by a professional mediator, often a judge. The people being interviewed were quite positive in their reviews. For example, a mortgage lender representative said that for the first time rather than a foreclosure procedure being a lose - lose situation for both the homeowner and the lender, the mediation process was often successful in working out a collaboration that modified the mortgage rates and terms so that the homeowner could … (3 comments)
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