Released: May 28, 2010

More homeowners turn to mediation after foreclosure

Source: Jeff Schweers, USA Today

When Mark Weeks was laid off from his $90,000-a-year construction job 2½ years ago,he vowed to hang onto his family’s house here, where he’d lived with his wife, their three children and two dogs for the last six years.

But his new job as a safety officer for a Cocoa, Fla., crane rental company barely paid a third of what he used to make, and he wound up unable to pay his mortgage. At first, he tried, unsuccessfully, to get mortgage-holder Wells Fargo to defer or lower his payments.

Read Full Article: More homeowners turn to mediation after foreclosure