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The Milwaukee Foreclosure Mediation program will bea voluntary, court-based independent mediation option for lenders and The program, located at the Milwauked County Courthouse, will seek to alleviate the currenft backlog of foreclosure cases in the county courtt system by offering the option of mediation to residentiao homeowners who reside in owner-occupied properties. According to the Law School, in most successful mediation will serve as a venuse to work out newloan terms, a shory sale or other solution that is mutually agreeable, and executes a final agreement between the parties.
The funding includees proceeds from a settlement with which was accused of misrepresentinv the quality and benefits of its Underthe settlement, announced in February, Countrywide agreed to pay $1.6 millionj for foreclosure relief benefits. The mortgagse lending giant also agreed to waiv various loan fees and modify loans for customersz that could result in a totalo settlement valueof $41.1 million, according to the Attorney General's office. Beginnin g May 28, an informational phone line will be operational for thosr interested in learning more about the Interested parties maycall 414-288-4040. Mediation activities will begihn afterJuly 1.
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