Informacion
en Espanol
Rezidansyèl
Mogej (ipotek) Foreclosure Medyasyon Pwogram
What
is foreclosure?
Foreclosure is a legal process by which the mortgage
holder causes the judicial sale of the secured real
estate to pay a defaulted loan. The mortgage on real
estate acts as collateral for the repayment of the loan
so when this loan is in default, the mortgage holder
exercises its rights to take the collateral by selling
the home.
What is the RMFM Program?
The RMFM Program is the Residential Mortgage Foreclosure
Mediation Program that has been ordered by the Florida
Supreme Court, and the Fifteenth Judicial Circuit
Court. This program mandates that all homestead foreclosure
lawsuits filed on or after July 12, 2010, be sent
to mediation prior to any final order being issued.
How do I enter the
RMFM Program?
All homestead foreclosure suits that are filed on
or after July 12, 2010 will be automatically referred
to the RMFM Program. The Program Manager will contact
you based on information received from the lender.
However, if you have been served with a foreclosure
suit and/or your contact information has changed,
please contact the RMFM Program directly at (866)
900-4254 (toll free)
I am a Homeowner who
was served with a foreclosure lawsuit filed before
July 12, 2010. Can I participate in the RMFM Program?
You may request a referral to this
Program by filing a Borrower’s Request to Participate
in the RMFM Program (download copy here).
File this request with the Court and mail a copy of
the request to the lawyer for the Lender.
Is there a cost to
me to participate in the RMFM Program?
There is no cost to homeowners for this program. The
Plaintiff (usually the bank) pays the required fees,
which include financial counseling and the mediation
session. In the event that you choose to have a second
mediation session, you will have to pay $100, which
is one-half of the fees for this session. The Program
anticipates that one mediation session will be sufficient
for most cases and this second mediation is optional.
What financial disclosure
information will I need to provide to the lender to
proceed to mediation?
Most borrowers will need to file the Foreclosure Mediation
Financial Worksheet (click here
for that document).
Homeowners must sign and then mail, hand-deliver or
fax the Release (last page of the financial agreement)
to the RMFM program before the Program can schedule
mediation.
Mail or hand-deliver to: Palm Beach County Bar Association,
RMFM Program, 1601 Belvedere Road, Suite 304E, West
Palm Beach, FL 33406.
Fax to: (561) 598-6265
Email with Release as a pdf to mediations@palmbeachbar.org
Borrowers will need to file Fannie Mae Hardship Form
1021 if they are seeking a Short Sale or Deed in Lieu
of Foreclosure. (click here
for that form)
For short sales, borrowers also need to file a signed
purchase contract for the residence or a listing agreement
for the sale of the residence, a preliminary HUD -1
form, and written permission from the borrower authorizing
the bank or the bank's representative to speak with
the real estate agent about the borrower's loan.
For Deeds in Lieu of Foreclosure, a current title
search for the residence should also be uploaded.
What is a short sale?
A short sale is a sale for less than you owe on the
mortgage loan.
What is a Deed in Lieu
of Foreclosure?
A Deed in Lieu of Foreclosure is when you voluntarily
execute a deed that transfers the property to the
lender in exchange for the lender canceling, in part
or in whole, the debt owed on the property.
Do I have the right
to consult with an attorney?
Yes. You have the right to consult with an attorney
at any time during the mediation process and to bring
an attorney with you to the mediation session. You
do not have to have an attorney; you may represent
yourself. If you cannot afford an attorney, you may
call the Legal Aid Society of Palm Beach County and
inquire about their pro bono foreclosure assistance
program, Monday through Friday, 9:00 a.m. to 5:00
p.m., (561) 655-8944 ext. 325 or (toll free) 800-403-9353
ext. 325. You may also contact the Lawyer Referral
Program at the Palm Beach County Bar Association by
calling (561) 687-3266 or (561) 451-3256 (Boca/Delray).
There is a $30 fee for a half-hour consultation with
an attorney through the Lawyer Referral Service.
Do all Borrowers who
signed the mortgage need to attend the mediation session?
Yes, all Borrowers must be present at the mediation
session. If not all Borrowers can attend, the Borrower
not attending should bring a completed Power of Attorney
for the other Borrower.
What happens if we
cannot settle during the mediation?
The parties can agree to continue to another mediation
session. If that session cannot be scheduled for the
same day, this session is optional and both parties
have to pay one-half of the fee, or $100 each for
this additional session. If the parties cannot agree
at all, and reach an impasse, then the case is returned
to the court.
What happens if I do
not attend mediation?
The case is returned to the court.
Link
to Frequently Asked Questions About Mediation
Homeowner
Forms
