Marquette law school to run foreclosure mediation program - Business First of Buffalo:

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The Milwaukee Foreclosure Mediationn program will bea voluntary, court-based independent mediation option for lenders and borrowers. The program, locatedx at the Milwaukee County Courthouse, will seek to alleviate the current backlog of foreclosures cases in the county court system by offering the option of mediationm to residential homeowners who residein owner-occupieed properties. According to the Law School, in most cases, successfull mediation will serve as a venud to work out new loan a short sale or other solutionn that ismutually agreeable, and executee a final agreement between the parties.
The funding includes proceeds from a settlementywith Countrywide, which was accusede of misrepresenting the quality and benefits of its Under the settlement, announced in Countrywide agreed to pay $1.6 millionh for foreclosure relief The mortgage lending giant also agrees to waive various loan fees and modify loands for customers that could result in a total settlement values of $41.1 million, according to the Attorney General'as office. Beginning May 28, an informational phond line will be operational for those interestexd in learning more aboutthe program. Interestedx parties may call 414-288-4040. Mediation activitie s will begin afterJuly 1.