UPDATE: Florida Pre-Foreclosure Mediation is no longer available
In light of several new and updated policies with similar goals of helping homeowners avoid foreclosure, effective October 1, 2012, Fannie Mae retired its pre-foreclosure mediation program for mortgage loans in Florida. The objectives of reaching borrowers in the earlier stages of delinquency and providing solutions for borrowers to avoid foreclosure, where possible, are the same goals that the company is seeking to achieve through operating its Florida Mortgage Help Centers, in conducting Florida borrower outreach events, and through the alignment of practices related to servicing delinquent mortgages led by the Federal Housing Finance Agency. Through the Mortgage Help Centers you can meet directly with an experienced housing advisor (either by phone or in person) to discuss your mortgage situation. English and Spanish advisors are available, and all services offered by the Fannie Mae Mortgage Help Center are FREE.
For more information please consult Fannie Mae’s www.KnowYourOptions.com website.
Do I Qualify for Foreclosure Mediation?
Why did the Court order foreclosure cases to mediation between 2009 and 2011?
Both lenders and homeowners told the court that they were unable to reach each other to try to find a solution. The Court decided to order lenders and homeowners to meet face-to-face, along with a neutral mediator, prior to the foreclosure hearing to try to come to an agreement. Because the number of foreclosures filings was increasing dramatically in 2009, the court decided that urgent action was needed so that the foreclosure process would be fair to everyone by providing both the lender and the homeowner an opportunity to be heard and, if possible, to find a voluntary solution. Court-ordered mediation was in effect from 2009 until the Supreme Court lifted the order in 2011.
Why isn’t foreclosure mediation for everyone?
The program is for homeowners who live in their homes. It is not for investors or speculators who own properties that they rent to others.