Welcome to Mediation Managers, Inc.
Mediation Mangers, Inc. (MMI) has been selected by Sixth Judicial Circuit to be the Program Manager for the residential mortgage foreclosure cases filed beginning July 1, 2010. MMI's main role is to contact the Borrowers (Defendants) and explain they are entitled to have their case mediated within 4 months of the date the case was filed and what must be done to get a mediation date.
Once the borrower chooses to participate in the program, he/she will be referred to a mortgage financial counselor for counseling and assistance in filing out financial documents and gathering other information necessary to work out a settlement of the foreclosure case. After the borrower completes the above requirements MMI will then schedule a mediation. MMI will provide the Mediators at one of our two locations.
The program assures the borrower an opportunity at mediation to discuss modification of the loan or consider other settlement options , such as deed-in-lieu or short sale, with a representative from the plaintiff bank. The program fees and the mediation fees are paid by the bank and not the borrower. If an agreement is made the parties will follow the terms of the agreement. If there is no agreement made then an impasse is called.
At completion of the Mediation the results, agreement or impasse, are reported to the Clerk of Court and the foreclosure case is finished depending on the outcome of the mediation. For further information and answers to questions please browse the pages of this site.
Start Date: July 1, 2010
On Friday, May 21, the 6th Judicial Circuit released an amended Administrative Order 2010-25 PA/PI Cir. for the Residential Mortgage Foreclosure Mediation Program.
Read the order here. (The necessary forms are found as hyperlinks at the end of the Order.) This program applies to all residential properties, both homestead and non-homestead, filed after July 1, 2010.