, Mediation program to help struggling Homeowners avoid Foreclosure.
The primary aim that was cited of this mediation program was to bring the lenders, borrowers and a third party who would be impartial to them both together to find a way so that the homeowners would be able to keep their homes or otherwise get themselves out of their debt in the best painless way possible. According to Daren Blomquist, the vice president of RealtyTrac, an online foreclosure property marketplace, this is the best way of reducing the foreclosure for a prolonged phase.
