Mediation is a form of alternative dispute resolution (ADR) in which disputing parties are encouraged to work together cooperatively to settle their disagreements. Unlike litigation, in which a judge ultimately decides how a case will be settled, individual parties stay in control at all times.
New laws were recently passed allowing for mediation in foreclosure proceedings.
To find out more about the new foreclosure law, or for general information about mediation as a method of dispute resolution, contact the law firm of Gilman & Edwards, LLC, in Landover, Maryland.
Individuals who are facing foreclosure in Maryland now have the option of petitioning for mediation. This can allow homeowners to openly communicate with their mortgage company or creditor, taking steps that may persuade the creditor from taking adverse action against them. If successful, mediation may halt foreclosure. If nothing else, it is an opportunity to hopefully learn what the lender has yet to tell you, and may buy a homeowner time to explore other options to avoid foreclosure.
This law is relatively new, and there are time limits that apply. For more information about mediation to stop foreclosure, and options for keeping your home, talk to a lawyer from our firm.
To learn more about mediation as a tool for dispute resolution or to prevent foreclosure, contact our Silver Spring Maryland Foreclosure Lawyers today.