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Art of the Stalled Foreclosure

Not a solution, it's more like 'making-do'. When faced with foreclosure, according to a CNN report, homeowners have a basket of tools they can use to delay bank action. In some cases, shrewd management of these tools can produce years of postponement. Here's what's in the basket: Challenging the bank's actions, maximizing deadlines for paperwork, requesting to see original paperwork (which is often buried or misplaced in the rush toward automation), and, as a last resort, filing bankruptcy. Helps to have a lawyer, of course, and not everybody can afford one. By stalling, some homeowners are looking for ways to pay back loans, others are not. Even without going to extreme lengths to stay a foreclosure, average processing times have jumped from 253 days four years ago to 674 days presently. Strength in numbers. [CNN]