Word on The Street is that there are moves afoot to cancel or limit the residential mediation program in Florida. We must not allow this to happen to a program that has only just begun.
Mediation has proven enormously successful in all civil litigation, all across the world. While mediation has not proven very successful in foreclosure cases yet, the program is too new to be scrapped.
I recognize frustration from the banks for the cost and certainly borrowers have their share of the blame for not participating and not providing all information required, but these are problems that should and must be corrected.
Please read the attached White Paper and circulate among all decision makers.