Residential Mortgage Foreclosure-Mediation Systems Design
The Florida Supreme Court issued an Administrative Order on December 28, 2009 mandating the establishment of a Residential Mortgage Foreclosure Mediation Program (RMFM) by each of Florida's 20 Judicial Circuit Courts. As a result of the establishment of the RMFM program, certain Judicial Circuit Courts have appointed the American Arbitration Association (AAA) to administer their Residential Mortgage Foreclosure Mediation Programs. Under this program, lenders and borrowers agree to mediate residential mortgage foreclosures either prior to or after the commencement of foreclosure proceedings.
Commercial Mortgage Foreclosure-Mediation and Arbitration
As an alternative to the time-consuming and costly process of foreclosure litigation the American Arbitration Association offers mediation and arbitration for fair and efficient resolution of commercial mortgage foreclosures (CMF).
