Even when faltering homeowners and their banks would both benefit by modifying mortgage terms or arranging a so-called “graceful exit’’ from an unsustainable loan, such negotiations haven’t become standard practice — and the arduous foreclosure process lurches forward, often through bureaucratic momentum alone. One promising solution is for governments to make mediation automatic, by requiring that borrowers be given a chance to sit down with lenders and neutral third parties to attempt to work out a payment solution that is viable for all involved. Mayor Menino is asking the Legislature to make the process automatic in looming foreclosure cases in Boston. Lawmakers should agree, and go a step further by making mediation automatic throughout the state for homeowners facing foreclosure. Similar laws have proved beneficial in Connecticut, Florida, and New York. Massachusetts should follow suit.
In foreclosure cases, mediation should be automatic option
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