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State Assisted Foreclosure Mediation in Connecticut
Connecticut offers a Foreclosure Mediation Program where homeowners facing foreclosure can qualify for mediation. A neutral third party will help homeowners and lenders resolve repayment issues.
November 12, 2011 /Law and Legal PR News/ -- State Assisted Foreclosure Mediation in Connecticut
Who Qualifies for Mediation?
Connecticut homeowners who have been sued in foreclosure have a benefit that could give them some relief, even as it helps banks diminish losses. The State of Connecticut Judicial Branch offers a Foreclosure Mediation Program. Homewoners that owner-occupy their one to four family homes being sued in foreclosure by a mortgage lender may qualify for mediation.
A neutral third party, an employee of the Judicial Branch, can help homeowners and lenders resolve payment issues. Participation is voluntary and the mediator assures that negotiations are fair. The property in question has to be the mortgage holder's primary residence, and its foreclosureaction return date can be no earlier than July 1, 2008.
Participating in Foreclosure Mediation
Any qualifying homeowner/borrower in Connecticut wishing to participate needs to file some important forms. These include, but are not limited to a Foreclosure Mediation Certificate (JD-CV-108) and an Appearance Form (JD-CL-12). The forms are available through the Judicial Branch website. The forms must be timely filed. After these are filed, the Judicial Branch will schedule a mediation session if the homeowner is eligible, and all borrowers/defendants to the foreclosure action seeking mediation must attend that session.
Mediation sessions are scheduled in courthouses across the state. While participants are not required to be represented by a lawyer, it is generally a good idea to discuss these issues with an attorney prior to filing.
Mediation has no application fee and all discussions are confidential. Applicants for mediation need to bring proof of income, such as a pay stub and a list of expenses. If they have applied for any other financial or mortgage assistance they need that paperwork as well, and any other related information.
Participating in the Foreclosure Mediation Program does not guarantee avoiding foreclosure. The action will continue, and participating homeowners still need to respond to any foreclosure actions. Participants could still lose their homes, but it allows one more possibility of a possible resolution.
Article provided by Yorio Law Group, P.C.
Visit us at www.yoriolaw.com
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