Illinois Mortgage Foreclosure Mediation Referral Order is a judicial order issued by the court to refer a mortgage foreclosure case to mediation. This order requires the borrower and lender to attend a mediation session with a neutral third-party mediator. The goal of the mediation is to work out a mutually satisfactory resolution between the lender and borrower to avoid foreclosure. There are two types of Illinois Mortgage Foreclosure Mediation Referral Order: voluntary and mandatory. Voluntary Mediation Referral Order is initiated by either the borrower or lender, while a Mandatory Mediation Referral Order is issued by the court. The mediation process is designed to help the parties come to an agreement on a repayment plan or loan modification that will benefit both parties. The mediation process is free of charge to the parties and serves as an alternative to foreclosure.
Illinois Mortgage Foreclosure Mediation Referral Order
Description
How to fill out Illinois Mortgage Foreclosure Mediation Referral Order?
US Legal Forms is the most easy and profitable way to locate appropriate legal templates. It’s the most extensive online library of business and personal legal paperwork drafted and verified by attorneys. Here, you can find printable and fillable templates that comply with national and local regulations - just like your Illinois Mortgage Foreclosure Mediation Referral Order.
Getting your template requires just a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Afterwards, they can find it in their profile in the My Forms tab.
And here’s how you can obtain a properly drafted Illinois Mortgage Foreclosure Mediation Referral Order if you are using US Legal Forms for the first time:
- Look at the form description or preview the document to guarantee you’ve found the one meeting your needs, or find another one using the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and judge the subscription plan you like most.
- Create an account with our service, log in, and purchase your subscription using PayPal or you credit card.
- Decide on the preferred file format for your Illinois Mortgage Foreclosure Mediation Referral Order and download it on your device with the appropriate button.
After you save a template, you can reaccess it at any time - just find it in your profile, re-download it for printing and manual completion or import it to an online editor to fill it out and sign more effectively.
Take advantage of US Legal Forms, your reputable assistant in obtaining the required official documentation. Give it a try!