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What is a foreclosure settlement conference?

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What is a settlement conference?

A settlement conference is a meeting scheduled by the court (you will get a letter), for you and your bank to talk about your case and see if it can be resolved. For example, you may see if the terms of the loan can be changed so that you can afford to pay every month. The court mediates the conference.

If you are able to reach an agreement with your bank during the settlement conference phase, your foreclosure case will be closed. If you are unable to reach an agreement, your case will move forward.

Where does a settlement conference take place?

Settlement conferences are held in the courthouse, but not necessarily in a courtroom. It may be in a regular conference room in the building.

What is talked about at a settlement conference?

Usually you will describe your financial situation, including your income and debts, and any savings. The bank should be able to describe, to you and the court, how much you owe and how the amount was calculated.

What happens after the first settlement conference?

Usually you will describe your financial situation, including your income and debts, and any savings. The bank should be able to describe, to you and the court, how much you owe and how the amount was calculated.

Will I have to go to multiple settlement conferences?

It is hard to say, as every case is different. But it’s safe to plan on attending more than one.


Disclaimer: This content is offered only as a public service and does not constitute legal advice. You should contact an attorney who is knowledgeable in this area to obtain advice with respect to any particular issue or problem.

Last Review and Update: Jan 24, 2019
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