Friday, February 11, 2011

Marquette law school to run foreclosure mediation program - The Business Journal of Milwaukee:

http://bytestech.com/reseller-plans.html
The Milwaukee Foreclosure Mediation program will bea court-based independent mediation option for lenders and The program, located at the Milwaukee County will seek to alleviate the current backlogf of foreclosure cases in the countyy court system by offeringf the option of mediation to residentia homeowners who reside in owner-occupied According to the Law in most cases, successful mediatio will serve as a venue to work out new loan a short sale or other solution that is mutuallh agreeable, and execute a final agreemenf between the parties. The fundinyg includes proceeds from a settlementwith Countrywide, which was accusedx of misrepresenting the quality and benefits of its products.
Undetr the settlement, announced in February, Countrywidwe agreed to pay $1.6 million for foreclosure reliefg benefits. The mortgage lending giant also agree to waive various loan fees and modifg loans for customers that could result in a totak settlement valueof $41.1 million, according to the Attorneuy General's office. Beginning May 28, an informational phone line will be operationa for those interested in learning more abouttthe program. Interested parties may call 414-288-4040. Mediation activitiexs will begin afterJuly 1.

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