What Occurs at a Settlement Conference?

Parties and their counsel are required to attend settlement conferences in person in the majority of jurisdictions.

Jay Rothman believes that, This crucial meeting can help you settle your case, mainly if a trial or a contested hearing is imminent.

It is wise to prepare in advance for your conference This requires a fundamental summary of your case's facts, including a description of the disputed issues and what you must prove at trial.

Focusing on the issues rather than personal sentiments or opinions about the other party is essential for a productive conference. It is necessary to be an ardent advocate, but it is also crucial not to go too far by making personal attacks or interrupting the other party's presentation

You should have copies of the case papers and any other pertinent documents prepared for the conference These may consist of copies of the mortgage, note, and loan modification forms; a copy of the Pooling and Service Agreement if there are investor restrictions; any denial letters from the lender or other loss mitigation options; and any additional pertinent information

During the conference, each party can make a settlement proposal to the other. This may entail a modification of the loan terms, a short sale, or a deed instead of foreclosure

The objective is to settle as quickly and amicably as feasible This eliminates the need for costly and time-consuming pre-trial motions, provisional hearings, and trials