Massachusetts Dispute Resolution Services (MDRS) brings valuable knowledge and experience of out-of- court dispute resolution to City of Lynn Foreclosure Mediation program. Mediation gives Lynn homeowners and their lenders opportunity to explore alternatives to foreclosure.
July 9, 2014 – The City of Lynn Foreclosure Mediation Program has been created to give Lynn homeowners and their lenders an opportunity to find mutually beneficial alternatives to foreclosure. The goal of the program is to keep Lynn families in their homes and at the same time prevent vacant and abandoned homes that negatively impact property values and destabilize neighborhoods.
Foreclosure mediation is designed to enable homeowners and lenders to communicate and negotiate alternatives to foreclosure in a non-judgmental and
monitored setting. These alternatives include but are not limited to retention options such as loan modification, repayment plan, reinstatement, or forbearance agreement, and non-retention options such as a short sale, deed-in- lieu-of-foreclosure, or consent foreclosure. This foreclosure mediation program is limited to residential, owner-occupied properties that are currently the homeowner’s primary residence. Foreclosures of non-residential, investment, or commercial property are not eligible for this mediation program.
The City of Lynn is working exclusively with MDRS to use mediation as a means of exploring alternatives to foreclosure within this program. In foreclosure mediation, experienced and impartial MDRS neutrals, who have been specially trained in foreclosure mediation, work to facilitate communication and negotiations between the homeowner and lender. The solutions may vary for each situation, but the end goal is the same – to avoid foreclosure whenever possible, and to find an outcome that works for both the homeowner and the lender.
MDRS will be notified by the City of Lynn when a lender files a Notice to Cure with Lynn City Solicitors, per their city Ordinance. MDRS and Lynn United for Change, the mediation program’s loan counseling and advocacy group, will immediately attempt to notify the homeowner about the mediation program. Homeowners in Lynn will receive an easily recognizable gold envelope from MDRS in conjunction with the foreclosure mediation program. These envelopes will be easily distinguishable from other materials that may be received outside of the program; homeowners should be vigilant of foreclosure rescue scams promising immediate relief from foreclosure.
About MDRS – Massachusetts Dispute Resolution Services (MDRS) provides a full range of out-of- court mediation and arbitration services to private individuals, attorneys, business, labor and the insurance community. MDRS, one of the first ADR providers in Massachusetts, offers a professional panel of over 35 select neutrals, including retired judges and experienced attorneys. Including cases handled by the panel, they have resolved more than ten thousand cases for their clients. Massachusetts Dispute Resolution Services provides mediation and arbitration services to parties who seek equitable settlement of their disputes without the time, expense and frustration which often accompany the more formal trial court system.
MDRS neutrals provide a wide spectrum of experience paired with dispute resolution processes designed to meet the parties’ interests in solving disputes equitably and skillfully. If you would like more information, please call MDRS Business Manager and City of Lynn Foreclosure Mediation Program Manager Sheri Stevens at (800) 536-5520 or e-mail Sheri at email@example.com.
Massachusetts Dispute Resolution Services (MDRS)
60 State Street, Suite 700
Boston, Massachusetts 02109
Phone: (800) 536-5520
Fax: (978) 741-2368