Loss Mitigation Mediation Program Adopted by Southern Florida Bankruptcy Court

The United States Bankruptcy Court for the Southern District of Florida has implemented a Loss Mitigation Mediation Program beginning April 1, 2013. The program states that it is:

“…designed to function as a forum for eligible Debtors to explore loss mitigation options with their lenders (“Lender”) for real property in which the Debtors have an interest and are obligated on the promissory note or mortgage. The goal of LMM is to facilitate communication and exchange of information in a confidential setting and encourage the parties to finalize a feasible and beneficial agreement with the assistance and supervision of the United States Bankruptcy Court for the Southern District of Florida. Loss mitigation options include modification of a mortgage or surrender of real property owned by an individual Debtor(s).”

More information about the program and its procedures can be found at www.flsb.uscourts.gov/.

Stephen M. Feidelman is available to serve as a loss mitigation mediator in the United States Bankruptcy Court for the Southern District of Florida.

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