The Mediation Option
For those home owners who are facing the possibility of foreclosure, help is literally just around the corner. Media outlets CET and 91.7 WVXU have partnered with several of Greater Cincinnati's trusted community resources to produce a series of programs that will provide information to residents about home foreclosure.
One such option that a home owner has is mediation. The process of mediation involves a neutral individual who meets with the home owner and the mortgage lender/servicer to determine if a mutually acceptable agreement, that is both commercially reasonable and sustainable, will work for both sides.
How do you find an experienced mediator? What can a home owner and mortgage lender/servicer expect from mediation? Finally, who is and who is not eligible to take advantage of the mediation option?
On this episode of FOCUS, Kathy Lehr talks with three specialists who explain how mediation could be the right option for your home foreclosure situation.
To find out more about foreclosure prevention and other community resources, visit the Cincinnati Facing the Mortgage Crisis website, phone 2-1-1 (and ask for mortgage help), or visit the Ohio Save the Dream website.