What options can be discussed at a mediation?
The parties in a foreclosure mediation can consider and discuss many options for resolution, including but not limited to a forbearance plan, modification of the interest rate, conversion from an adjustable rate mortgage (ARM) to a fixed rate, reduction of principle, deferring certain costs or payments to the end of the mortgage, loan modification, waiver of fees or expenses, deed in lieu of foreclosure, a short sale, deed and lease back, special payment arrangements, extending the term of the mortgage, assistance from a state or federal agency, or any other practical mechanism for solving the current problem.
