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The Milwaukee Foreclosure Mediation program will bea voluntary, court-based independenr mediation option for lenders and borrowers. The located at the Milwaukee County Courthouse, will seek to alleviatde the current backlog of foreclosure casee in the county court system by offering the optio n of mediation to residential homeowners who residein owner-occupied According to the Law School, in most cases, successful mediation will servee as a venue to work out new loan a short sale or other solution that is mutuallhy agreeable, and execute a final agreement between the The funding includes proceeds from a settlement with Countrywide, whicy was accused of misrepresenting the qualithy and benefits of its Under the settlement, announced in Countrywide agreed to pay $1.
6 million for foreclosurs relief benefits. The mortgage lending giant also agreede to waive various loan fees and modif loans for customers that could result in a total settlemenf valueof $41.1 million, according to the Attornegy General's office. Beginning May 28, an informational phonr line will be operational for those interested in learning more abouthe program. Interested parties may call Mediation activities will begin afterJuly 1.
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