Of 364 outcomes as of April 30, only 71--or 20 percent--kept people in their homes, according to Rick Torrance, who oversees the mediation program for the state Department of Commerce.
Torrance nonetheless argues that the program is a success. "It's not just about saving people's homes," he tells Seattle Weekly. "It about making sure the process is fair."
The post inspired commenter ET to chime in, writing:
So what is the bank supposed to do? They loaned you $355,000 on a condo that is now worth $225,000 and you have not made a payment in 5 months. Is the bank supposed to bring candles and herbal tea to the mediation session and help you through your grieving process? Perhaps you can all join hands and pray that you will get a job that allows you to make your payments? Lending is a business. If you go to a restaurant and eat a steak and don't pay, do you expect to have a mediation session with the owner at Canlis before he calls the police?