Florida’s Foreclosure Mediation Could End

Tampa Bay
October 25, 2011

Despite a backlog of more than 350,000 foreclosures, many are suggesting that the Florida Supreme Court mediation program should end because it hasn’t helped people stay in their homes as the judicial committee thought it would. Less than five percent of the mediations statewide were successful. One report suggests that the program failed based on three main factors: “borrowers not trusting the program; lenders not willing to settle cases in mediation; and officials not publicizing the program.”

Local officials want the program to continue. Thomas McGrady, chief judge of the Pinellas-Pasco County Circuit, believes that tracking the success of the program was a problem: “officials could not track the outcome of cases after mediation ended and bank representatives had no authority to negotiate. Fixing those issues could have raised success rates.”

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