Frequently Asked Questions: Foreclosure Mediation Program

1. What is the Foreclosure Mediation Program?: The Foreclosure Mediation Program has been set up to assist any homeowner/borrower whose residential property is the subject of a mortgage foreclosure action or threatened by a mortgage foreclosure action. The homeowner and lender will meet with a mediator to try and reach an agreement.
2. What is mediation?: Mediation is a process by which a neutral third party (mediator) assists the homeowner and lender in reaching a fair, voluntary, negotiated agreement. The mediator does not decide who is right or wrong.
3. Who are the Mediators?: The foreclosure mediators are legal professions educated and trained in mediation and foreclosure law.
4. How do I apply for foreclosure mediation?: Contact King Mediation with the contact information of the other party and we will schedule a date to mediate that works for both sides at a location that is convenient for everybody.
5. Do I need a lawyer to participate in the Foreclosure Mediation Program?: No, you do not have to be represented by a lawyer to participate in this program.
6. Do all borrowers who signed the mortgage need to attend the mediation session?: Yes, all borrowers must be present at the mediation session; for example, if a husband and wife signed the mortgage then both will need to be present for the mediation.
7. Do I need to have my client present at the mediation session?: The mortgagor and the mortgagee shall appear in person at each mediation session and shall have authority to agree to a proposed settlement. However, if the mortgagee is represented by counsel, said counsel may appear in lieu of the mortgagee to represent the mortgagee's interests at the mediation, provided such counsel has the authority to agree to a proposed settlement and the mortgagee is available during the mediation session by telephone or electronic means. If the mortgagor is represented, both client and counsel must be present (counsel may be present via telephone).
8. Is the mediation confidential?: Yes, any discussions in the mediation are confidential.
9. Where will the mediation sessions be held?: The mediation session(s) will be held at a location convenient to the parties determined at the time the mediation is scheduled. Locations are available statewide.
10. When will the first mediation session be held?: The first mediation session should be held no later than ten (10) business days after a Foreclosure Mediation Request has been submitted to our office.
11. What is the fee for mediation?: The fee will vary from case to case ranging from $0 to $100 per hour per party. There is no obligation until the fee is set.
12. As a homeowner, what should I bring to the mediation session?
13. What issues will be addressed at the mediation?: The Foreclosure Mediation will address all issues including, but not limited to:
14. Does mediation mean I won't lose my house due to foreclosure?: Participation in the Foreclosure Mediation Program does not stop or suspend the foreclosure. The homeowner is still obligated to respond to the foreclosure action and may still be at risk of losing their property to foreclosure. But, Foreclosure mediation allows for direct contact between the homeowner and lender.
15. Where should I direct questions about the Foreclosure Mediation Program?: If you have questions about the Foreclosure Mediation Program, please contact us at 801-543-2288, or email and refer to the Foreclosure Mediation Program.