Mortgage Mediation

Milwaukee Bankruptcy Lawyers

414-223-0000
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Wisconsin Mortgage Modification Mediation Assistance- FOR CHAPTER 13 DEBTORS ONLY

The Mortgage Modification Mediation Program in Wisconsin is a brand new program designed to help qualified Chapter 13 debtors keep their homes by modifying their existing mortgage to an affordable payment. To qualify, the debtor must have steady income and pay 31% of gross income or 75% of the current mortgage payment [whichever is less] while the mediation process is pending. Requesting mediation will allow debtors and lenders to discuss whether modifying a mortgage loan is feasible. Debtors that are successful may lower their monthly payment amounts and keep their homes.

Mortgage Mediation can be as simple as a meeting conducted by one of our Attorney's who acts as a discussion facilitator. We cannot force the lender to modify the your mortgage but can help you reach an agreement with your mortgage lender. Mediation is simply a way for home owners and lenders to discuss whether modifying the mortgage is possible.

Qualified debtors who want to use MMM, should contact the Bankruptcy Law Offices of Richard A. Check to help file the appropriate motions to Participate in the Mortgage Modification Mediation Program, here in Wisconsin.


MINIMUM QUALIFICATIONS FOR THE MORTGAGE MODIFICATION MEDIATION PROGRAM

  • Only Chapter 13 debtors can request mediation
  • Limited to the debtor's primary residence
  • Debtor has steady income
  • Debtor must provide signed tax returns, pay advices and other financial information requested by the lender
  • Debtor and the lender must each pay half of a non-refundable mediation fee to the appointed mediator before attending the scheduled mediation

Milwaukee Location

757 N. Broadway
Suite 401
Milwaukee, WI 53202
(414) 223-0000
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