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The Milwaukee Foreclosure Mediation program will bea voluntary, court-base independent mediation option for lenders and borrowers. The located at the Milwaukee County Courthouse, will seek to alleviate the currenft backlog of foreclosure cases in the county court system by offerinh the option of mediation to residentialk homeowners who residein owner-occupied According to the Law School, in most successful mediation will serve as a venue to work out new loan a short sale or other solution that is mutually agreeable, and executse a final agreement between the parties.
The funding includezs proceeds from a settlement with which was accused of misrepresenting the qualit y and benefits ofits products. Under the announced in February, Countrywide agreed to pay $1.6 millio for foreclosure relief benefits. The mortgages lending giant also agreed to waivs various loan fees and modify loans for customers that coulxd result in a total settlement valurof $41.1 million, according to the Attorney General's Beginning May 28, an informational phones line will be operational for those interestec in learning more about the Interested parties may call 414-288-4040. Mediation activitiesw will begin afterJuly 1.
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