Will F2F Save You From Foreclosure?

Abandoned homes are still a lingering problem for many states as foreclosed homeowners continue to be pushed out in record numbers. When they go, they leave in their wake unkempt yards, dilapidated homes and squatters, all causing unnecessary blight on formerly tidy neighborhoods.

Yet, when these struggling homeowners seek help from their lenders to stave off foreclosure, they often enter a Kafka-esque nightmare of endless faxes, phone calls and paperwork requested by a parade of faceless employees.

It's one thing to give someone the run-around by phone or email. But quite another when they are sitting right in front of you. That's why more and more states are requiring face-to-face mediation before a bank can foreclose on a homeowner.

Minnesota is the latest state hoping to give mediation a try. After a first attempt was vetoed by the Governor, the state legislature will try again this year to get a foreclosure mediation bill enacted into law. it would compel lenders to negotiate with mortgage holders with the goal of eliminating foreclosures.