Foreclosure by Arbitration?
Foreclosure arbitration is not a new form of alternative dispute resolution; however its practice has undoubtedly grown since the housing market collapsed in the late 2000s. With foreclosure eclipsing all-time highs on the heels of a declining housing market, foreclosures have become enough of an issue that local and federal government agencies have enacted legislation to aide homeowners who might potentially lose their homes. Some states now make it mandatory for lenders to come to the table with homeowners in alternative dispute resolution in order exhaust all possible efforts to save their home and/or its equity. While foreclosure arbitration is not law in all 50 states, it can still be an option for you. You should seek counsel and consultation form a qualified arbitration attorney to potentially avoid the loss of your property and the financial ramifications associated with foreclosure.
Arbitration.com’s directory will connect you or someone you know with a foreclosure arbitration specialist in your area.