BANKRUPTCY MEDIATION OF HOME MORTGAGE MODIFICATIONS

Introduction by Vijay Malik, Creighton University Law Student

Although the housing crisis has resulted in over one million foreclosures, industry experts expect a million more in 2011 alone, the expected peak year.  Accordingly, the Obama administration has made foreclosure mediation one of three priorities in its Access to Justice Initiative (see:  http://www.justice.gov/atj/).  On February 1, the Senate Committee on the Judiciary held a hearing entitled "Foreclosure Mediation Programs: Can Bankruptcy Courts Limit Homeowner and Investor Losses?"  The hearing brought to the fore many challenges faced by . . .

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