What is a foreclosure mediation program?

A foreclosure mediation program is a program that is designed to help borrowers in Oklahoma who are facing foreclosure. It is an alternative to foreclosure that can provide borrowers with an opportunity to avoid foreclosure and save their homes. Under a foreclosure mediation program, the borrower and the lender agree to a face-to-face mediation session facilitated by an independent mediator. The mediator is a neutral third-party who will discuss the terms of the loan, the borrowers options and any other issues. The goal of the mediation process is to help the borrower and lender come to an agreement that is beneficial for both parties. During the mediation process, the borrower and lender can work out a plan to avoid foreclosure. This could include a loan modification, a short sale, or other options. The mediator will help the borrower and lender come to an agreement that is in the best interest of both parties. The goal of a foreclosure mediation program is to help borrowers in Oklahoma who are facing foreclosure to save their homes. By providing face-to-face mediation, borrowers can avoid foreclosure and find a solution that is beneficial for both parties.

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What is a foreclosure mediation program?

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