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Modification Program

In April 2013, the bankruptcy court for the Southern District of Florida initiated the Loss Mitigation Mediation Program - later renamed the Mortgage Modification Mediation Program. The Program is designed to assist individuals in saving their home while in bankruptcy and has since been broadened to include investment properties in addition to homestead properties. (Parties may also seek non-retention options including short sale and deed in lieu). See

For many homeowners facing imminent foreclosure, the program offers a final opportunity to save their home. In chapters 7 and 13, borrowers can request to modify any mortgage that they have an interest in, while in an individual chapter 11, a borrower may request to modify a mortgage that is the borrower’s primary residence.

It is important to keep in mind that while the program does not require the lender to present a modification, upon order of the bankruptcy court, the lender is to review the borrower’s modification package in good faith. The Borrower would attend the mediation along with their attorney; also present would be the lender, its attorney and the mediator. Borrowers often elect to use the mediation to review the lender’s position and ensure the lender has used the correct financial information in its decision.