How Do I Qualify?
This Foreclosure Avoidance Mediation program is available for two types of homeowners:
- Homeowners who have received a “Notice of Mediation” from their lender
- Homeowners who are “at-risk” of default and who wish to mediate with their lender
1. You have received a “Notice of Mediation” from your lender.
If mediation is initiated in connection with a Notice of Default, you will receive a Notice of Mediation from our lender. Be sure to respond by the deadline on that notice to ensure your ability to participate in the mediation program.
Notices will go out on July 11, 2012.
Homeowners are required to pay a $200 fee for mediation.
The homeowner and lending institution share the cost of mediation. If your income is less than 200% of the federal poverty level you are eligible for a waiver of $150 of the $200 fee.
Meet with a Housing Counselor
Prior to attending the mediation, you will be required to meet with a housing counselor. Housing counseling services are free, and a list is available by clicking on Foreclosure Resources.
2. If you are at Risk of Default and would like to request mediation with your lender
A homeowner who is at risk of default may request mediation. Click here for more information.
Homeowners are required to pay a $200 fee for mediation.
The homeowner and lending institution share the cost of mediation. If your income is less than 200% of the federal poverty level you are eligible for a waiver of $150 of the $200 fee. For a copy of the fee waiver form, select Homeowner Application for Fee Waiver.
Meet with a Housing Counselor
Prior to attending the mediation, you will be required to meet with a housing counselor. Housing counseling services are free, and a list is available by clicking on Foreclosure Resources.