Mandatory Foreclosure Mediation

Bridgeport Foreclosure Defense Attorneys Work to Protect Clients through Foreclosure Mediation

The recent recession was having too high a cost: countless people in the state of Connecticut were losing their homes to foreclosure. As a result, the state came up with a solution to try and help people save their homes: mandatory foreclosure mediation. Foreclosure is a state court procedure in which the court provides for repossession of a home through the foreclosure process. Because so many people were losing their homes, Connecticut instituted mandatory mediation in foreclosure proceedings, something that people are beginning to take advantage of. In this process, mediation is held with a bank representative and a mediator, and it can provide a good means for saving homes.

At Bridgeport, CT's Mark M. Kratter, we are experienced in the mediation process and can help you understand exactly what to expect. From start to finish, we can assist you in working with the banks and lenders to come to a workable and agreeable payment plan.

What Is Mediation?

Mediation is a process in which a neutral third party assists the homeowner and lender in reaching a fair and negotiated agreement. In the state of Connecticut, the "Foreclosure Mediation Program" has been created to assist any homeowner/borrower whose residential property is the subject of a mortgage foreclosure action. The property must be located in the state of Connecticut and be the homeowner's primary residence. The mediation process calls for the homeowner to meet with a mediator and a lender to try and reach an agreement about payment, usually allowing for adjustments as to rates and monthly payments. Many homes have been saved this way, and Mark M. Kratter has seen countless Connecticut residents experience the joy of being able to keep their homes.

What We Can Do for You

The path to success through mediation is being fully prepared for the process. As soon as you can, or within 15 days of the return date on your foreclosure notice, you should contact us to begin the process of saving your home. Mark M. Kratter fully informs you as to all of your options, and starts collecting extensive financial information from you and your bank. We work tirelessly with you to gather all of the necessary evidence to demonstrate your need, and your ability to ultimately save your home. So many people have found that, with sound legal counsel, the foreclosure mediation process has saved their lives. Join those that have worked with us to keep the roof over their heads by calling us at our Bridgeport, CT office today at 203-678-8135.