Litigation – (Procrastination + Strangulation) ÷ Mediation
or Conciliation = Resolution.
As summer begins in the rest of the nation Floridians struggle to maintain
cool surroundings while attempting to dodge high electricity bills that
arrive with the heat. However, many are lucky to fight this battle as
they still have their homes. Besides the fact that foreclosure filings
have decreased, many can attribute this fact to actively exercising their
settlement options. Often times, homeowners feel more comfortable meeting
and discussing their Loss Mitigation and/or settlement options with the
Plaintiff and find this impossible to do. This goal can be achieved by
requesting a Mediation and/or Conciliation Conference. The purpose of
this blog is not to focus on Florida’s upcoming heat wave, but to
understand the difference between mediation and conciliation conference.
Mediation is a forum used to try to resolve pending matters. In foreclosure,
this is typically used to try to resolve complex issues or settlement
discussions. Mediations involve the participation of a neutral third party
to facilitate the discussion and help achieve any common goals and/or
reach resolutions. However, mediations are not free and must often be
A conciliation conference is very similar to mediation as far as its purpose.
In foreclosure, a conciliation conference is commonly used to discuss
pending modifications. Unlike Mediation, there is no mediator and the
conference is free. Also, conciliation conferences typically take place
telephonically. Although there is no mediator, conciliations are extremely
informative and beneficial to the homeowner. It ensures the lender has
everything necessary in order review and hopefully approves the homeowner
for a modification.
If you find yourself going through a foreclosure, look into whether a mediation
or conciliation conference will assist you in reaching your goals, then
discuss setting one up with your attorney. If you do not have an attorney,
request one in court or with the plaintiff’s counsel. Don’t
let your financial restraints prevent you from an open discussion with
the bank and their lawyers to resolve your foreclosure matter. Therefore,
if the option arises, request a conciliation conference and save your
money for that high electricity bill, or opt out for mediation with a
professional mediator. In the mean time, stay cool and exhaust all possibilities
in order to save your home so you can enjoy the many hot summers to come!
On the Corner of Heat Strokes and Settlements,