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Just Court ADR

The blog of Resolution Systems Institute

Posts Tagged ‘lenders’

Using Foreclosure Settlement Funds for Effective Mortgage Dispute Resolution

Heather Scheiwe Kulp, May 21st, 2012

The settlement was huge. Five major banks signed an agreement with 49 Attorneys General after the AGs instigated an investigation into the foreclosure crisis and the banks’ involvement in it. The result: an unprecedented $25 billion is flowing into states over the next three years to repair the damage the foreclosure crisis has caused to infrastructure, lending and homes. The settlement agreement earmarks $2.66 billion of this money for foreclosure prevention efforts, which could include increased housing counseling availability and more robust dispute resolution programs.

So where is the money going? (more…)

Part 2 of 3: Foreclosure Mediation Best Practices

Heather Scheiwe Kulp, March 7th, 2012

PRE-MEDIATION SESSION ELEMENTS

Conduct Extensive, Personalized Outreach to Borrowers

Outreach to borrowers is key to getting participation in the program. Most people do not open their mail or answer the phone when they are in foreclosure. For those that do, legal notices should be written in simple language with a clear instruction for what borrowers should do next. Programs should find ways other than mail to help borrowers access mediation programs.

One jurisdiction has dedicated funds for (more…)