The 2008 holiday was a disaster for retail ers, as a financial crisis swept across the globe in September and consumers cut spending on nearly everything but bare necessities.Now on to our real estate educational section...Mortgage Modification Bill May Impact ForeclosuresThe newly proposed “Preserving Homes and Communities Act of 2009†introduced by Senators Jack Reed (D-Rhode Island), Dick Durbin (D-Il), Sheldon Whitehouse (D-RI) and Jeff Merkley (D-OR) limits foreclosures and requires lenders and services to offer mortgage modifications if the net present value of the modification is anticipated to be greater than the foreclosure value.Additional provisions of the newly proposed bill include:• Limits on foreclosure fees• Creation of a nationwide database to track foreclosures• Strict penalties for non-compliant firms• State sponsored mediation programs• Grant money for borrowers struggling to make payments regardless of current mortgage product.• Capitalize the National Housing Trust Fund with $1 billion in proceeds toward preservation and restoration of affordable housing.While advocates of the bill cite the growing increase in foreclosure rates across the nation as evidence of the need for further intervention, critics of the bill believe it will increase the burden on banks and lenders while simultaneously reducing fees associated with delinquent accounts.According to Moodys.com, mortgage defaults are expected to rise to as many as four million with more than a third of new defaults associated with prime fixed rate loans rather than the original sub-prime concerns.

If your in denial you take no action on any of the folks during the 5 month foreclosure gestation period.. and now you have mandatory mediation etc. so lots of time for them to work it out.So what we decided is we only wanted to deal with highly motivated folks and they usually get highly motivated on Monday when their house is going to be sold on Wed. 

I mentioned about the state real estate commission for mediation, the owner basically said it's useless because they are not affiliated with them.I thought TREC is overseeing all licensed realtors/PMs in the state. 

Ignore state mediation, ignore us for over a year, then convince the judge we didn't give them a fair chance at redeeming.

Maybe you could pay for the soil testing as part of your contract. if there is any contamination in the soil it'd be a no go as re-mediating the soil would be very costly and you'd still be able to pull out. 

My insurance covered up to 1 million and said if he won I would be responsible for any amount above the initial million.This was somewhat of a frivolous case as this guy fell because of his own stupidty and nothing pertaining any negligance on my part or properties part.We went to mediation and he was found at fault 60% and I was found at fault 40% he was awarded 8k but based on him being liable for 60% he only received 40% of the 8k payout.Although this case is different then yours, in other ways it is similar. 

Even the mediating attorney said that we found a great niche every time he saw us in the mediation room.It's a balancing act.

When you select each tenant, you are now the dispute mediator and lawsuit recipient.

Whenever I  find  myself striving for money and neglecting other things like mediation and my family I read Ecclesiastes to get me back on track for what’s really important .

Bigger Pockets would need to be a role model to mediate such an enterprise-wide model.