Foreclosure Mediation

Foreclosure mediation is a process designed to help homeowners facing foreclosure negotiate with their lenders before a foreclosure occurs. During mediation, a neutral third party, called a mediator, facilitates discussions between the homeowner and the bank. The goal is to find a mutually agreeable solution, such as loan modifications, repayment plans, or other alternatives to foreclosure. This process aims to provide homeowners with a fair opportunity to keep their homes while ensuring lenders can address their financial interests, promoting cooperation and reducing the stress of foreclosure for all parties involved.