Pre-file Mediation Program
If you have a Fannie Mae-backed loan that is approaching 65 days delinquent, the Collins Center wants to help.
The Collins Center is a nonprofit public policy organization with one goal: to help Floridians.
On the 65th day you are late on your mortgage, the lender will refer the loan to the Collins Center to determine if you're eligible for the Pre-file Program at no cost to the homeowner.
The Pre-file Program aims to come to a mutually agreeable resolution between the lender and borrower to avoid the foreclosure process.
The Pre-file Program begins with financial counseling for the homeowner, which is arranged by the Collins Center. Then, the Collins Center will invite the homeowner and a representative from the lender to a mediation session facilitated by a civil court certified mediator.
Often times, the outcome is a lower monthly mortgage payment and a lower interest rate for the homeowner in order to avoid foreclosure.
To learn more about the process and how Collins Center mediation might help you read the story of homeowner Ted Roberts of Lynn Haven.
