Through the first six months of this year, Nebraska Rural Response Hotline officials are reporting over 300 mediation requests. University of Nebraska Extension Water and Ag Law Specialist David Aiken says that’s likely due to flooding this year along with low commodity prices. He says Nebraska law requires that if a creditor is foreclosing on an obligation of $40,000 or more, they must send a notice to the borrower of the availability of mediation. Aiken says there are several types of compromises that may be considered.
He says those going through mediation may ask for financial and legal assistance and should have any mediation agreement reviewed by their tax advisor or attorney.
Aiken says it’s critical that whenever a person gets a notice of mediation they take action as soon as possible.
Those needing mediation referral help or any other assistance can call the Nebraska Rural Response hotline at 1—800—464—0258.
