Mediation, farmer-lender style, can make the housing mortgage lifeline work. What New Jersey needs for homeowners facing foreclosure in the subprime loan mess
— some 53,600 were filed in 2007 and more are anticipated in 2008 — is a law that requires lenders to seek mediation for their troubled loans before foreclosure, and a
forum in which loans can be modified.
Op-Ed for The Hall Institute of Public Policy