The Mortgage Modification Mediation program in the Arizona Bankruptcy Courts is approaching its one-year anniversary. In celebration, the Bankruptcy Court judges have approved revisions to the Procedures that govern the program.
First, the approved fees for Debtors' attorneys has been increased from $1,750 to $2,500, for cases in which the MMM Motions filed ON or AFTER February 1, 2018. This is the amount that is paid in other jurisdictions that participate in a near-idential MMM Program.
Second, the Debtors may apply for the fees upon: 1) the entry of an Order Approving the Trial Loan Modification Agreement, or 2) the filing of a Mediator's Report stating that no agreement was reached.
Other changes include:
Click Here to access a PDF file comparing the 2017 version to the 2018 version of the MMM Procedures Document.