Distressed borrowers are employing a new strategy to save their homes from foreclosure. It's called crowdfunding.

When times are tight, some borrowers are essentially turning to crowdfunding campaign sites to raise mortgage payment money from friends, family and strangers.

CBS News explains:

Can a crowd save a house?

Ruth Caspary, 45, has launched a crowdfunding campaign on GoFundMe after losing her job in 2009 as a visual effects artist. Finding a new job was tough, so instead she joined her husband's dance instruction business, "Salsa with Juan," as a marketing manager and dance instructor.

The question is what happens when a servicing firm hears about crowdfunding? How do you service a loan if a borrower's solution for raising cash is temporary and dependent on the generosity of strangers?