Illinois Motion For Referral To Mortgage Foreclosure Mediation is a voluntary program open to homeowners in foreclosure in Illinois. The program provides an opportunity for homeowners to meet with their mortgage lender and a mediator to discuss possible alternatives to foreclosure. Through the mediation process, homeowners may be able to reach an agreement with their lender to avoid foreclosure. There are two types of Illinois Motion For Referral To Mortgage Foreclosure Mediation: Default Mediation and Prejudgment Mediation. Default Mediation is available to homeowners who are in default on their mortgage, meaning they are more than 31 days late on their payments. Prejudgment Mediation is available to homeowners who have already been sued by their lender for foreclosure. In both cases, a mediator will work with the homeowner and lender to reach a mutually beneficial resolution to the foreclosure process.
Illinois Motion For Referral To Mortgage Foreclosure Mediation
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