Loss Mitigation

Foreclosure suspensions merely a smokescreen to real issues 

The recent debacle of foreclosures is nothing more than a smokescreen for borrowers who can no longer make the mortgage – normally through no fault of their own. We can freely exonerate the borrower from the ability to pay using the usual suspects: predatory lending, loss of income, onerous medical expenses. But somehow it remains righteous to blame the mortgage servicers in totality for problems that are part and parcel with the borrower? Fair enough, but let me say that I welcome a suspension of foreclosures only because foreclosures don’t happen fast enough anyway.