In 2009 the Maine Legislature established the Foreclosure Diversion Program (“FDP”) in the Maine Judicial Branch. It affords a valuable opportunity for homeowners and lenders to consider mutually beneficial alternatives to foreclosure.
The FDP continues to see a high level of activity. In 2013, the FDP conducted 2,518 mediation sessions in 1,697 foreclosure cases. A total of 4,756 foreclosure cases were filed in Maine in 2013, an increase from the 4,339 cases filed in 2012.
The FDP has achieved positive results. An increasing number of foreclosure cases in the FDP have concluded in dismissal, thereby saving homes from foreclosure. To date, 60% of cases mediated in 2010 and 59% of cases mediated in 2011 have been dismissed. Of cases mediated in 2013, 21% have been dismissed so far.
What this page describes may not fit with traditional ideas and approaches that are frequently used or stated in response to this common phenomenon but is based on experience of...By Alan Sharland
Arbitration BlogBetween February and March 2014, the Survey on the Use of Soft Law Instruments in International Arbitration was open for responses here at Kluwer Arbitration Blog. The users were...By Elina Mereminskaya