Brevard County Courts enact mandatory foreclosure mediation

In an effort to stem the flood of foreclosures, Brevard County now requires all lenders (and plaintiffs in foreclosure actions) to enter into mediation with homeowners before a foreclosure will be granted. The lender will have to pay for this and it will most certainly slow the process. It also appears that it is mandatory only for owner-occupied properties. Will this reduce the number of foreclosures? Hard to tell, it will create more burden and cost for the banks and stall the real estate recovery.