For the past two years the Collins Center has been handling all foreclosure mediations in Miami-Dade County. However, it is now being replaced by the Oasis Alliance Corporation, a not-for-profit based out of Tampa.
Oasis Alliance will begin the take over on March 28. Before venturing into South Florida, Oasis has been handling foreclosure mediations in Hernando, Citrus and Lake Counties. In these three counties there are about 15,000 open foreclosure cases. There are 70,000 in Miami-Dade County.
Is the Oasis Alliance ready? Considering that Oasis has handled a small amount of cases compared to what they are about deal with in Miami-Dade, there is certainly some concern that they may not be ready to handle the increased case load. In addition to the case load, Miami-Dade County presents difficulties because of its diversity.
During the Collins Center tenure, only 5.6 percent of distressed homeowners eligible for mediation reached a resolution with their lenders. The biggest problem the Collins Center faced was getting people to actually attend mediation. Of those who did attend, 32 percent of those cases were resolved in mediation.
These figure show that if the distressed homeowners actually show up to mediation, there is a good chance that an out-of-court resolution is certainly possible. It is incumbent upon the Oasis Alliance to reach out and make a concerted effort to convince more homeowners to attend mediation.
At Alvarez & Barbara, we understand the importance of attending mediation and stress upon our clients that they must attend mediation. Not only are we familiar with foreclosure mediations, we have experience as mediators. We have been able to achieve favorable resolutions for our clients at mediation, and that includes finding suitable alternatives to foreclosure.
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We have been successful in defending many foreclosure cases when given an opportunity to develop a plan to properly defend the foreclosure.
If you are on the brink of foreclosure, need a real estate attorney, or just need to assess your legal rights, please contact our office today.
Call us today toll free at 1-866-518-2913 or at 305-263-7700.