One of the best protections against foreclosure here in Washington State is the Foreclosure Fairness act mediation program dfi.wa.gov/consumers/homeownership/foreclosure-mediation.htm. Homeowners who have received a Notice of Default on an owner occupied property qualify to participate in the program administered by the Department of Commerce. Once they are referred to the program and accepted the property can not be sold until the bank participates in negotiations in good faith. Unlike the standard modification process, there is a mediator appointed and the mediator has a duty to make sure the homeowner and the bank participate in good faith and the property can not be sold until the mediator issues a certificate of completion. However there have been some challenges. The program and department are underfunded and lack the resources to effectively broadcast the availability of the program. Additionally, the homeowner must be referred by a housing counselor or attorney. The housing counselors are in large part funded by the banks and this has lead to dissatisfying results and attorneys are expensive so homeowners often can not afford their services. In an effort to provide an affordable and efficient solution to these problems, we have launched the mediation department at Financial Revival Group Inc. We will work along- side our network attorneys to facilitate efficient and affordable services to homeowners defending against foreclosure. The attorneys in our network will issue the initial referral to the department of commerce, be available as needed and supervise the process. We assemble the borrower document package, facilitate communication between all parties, educate and support the borrower through -out the process and act as personal representative during the mediation. We have the ability to provide more intimate involvement in the process for a much more affordable price. If you would like more information or would like to participate in the program, please call 425-259-2600 for a free 15 minute consultation. myfinancialrevival/
Posted on: Tue, 13 Aug 2013 19:20:22 +0000
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