Homeowners were in over their heads with a mortgage that they could not afford. The couple had been struggling financially and were unable to make a mortgage payment for six months. The husband had been out of work for one year after losing his job. During this time of financial hardship, the husband became disabled and the wife had entered retirement. As their financial situation changed, they were able to qualify for new options on their mortgage. However, each time they reached out to their bank, they spoke to a different person and each bank employee gave the couple conflicting information. After six months of missing mortgage payments, their house went into foreclosure and the couple requested mediation to help them navigate the stressful time. Mediation stopped the clock on their foreclosure. They were able to gather all the documents to prove their income and to establish a new starting point for a refinance. The lender collected the documents and requested several more to prove social security and all of their debts. By the time the mediation was held at the table, the lender was prepared to offer a new loan, at $300 less per month in payments. The difference was just what this family needed to keep their home.
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