On July 22, 2011, the state of Washington enacted the foreclosure mediation program, RCW 61.24.130. Among other things it states:

… the parties have a duty to mediate in good faith and that failure to mediate in good faith may impair the beneficiary’s ability to foreclose on the property …. [T]he mediator must require the participants to consider … [t]he net present value of receiving payments pursuant to a modified mortgage loan as compared to the anticipated net recovery following foreclosure …. [and] [a]ny affordable loan modification calculation and net present value calculation….

 If a servicer fails to approve a modification of a loan, I invoke this law and proceed to mediation.

Read the full text of RCW 61.24.163.

A request for mediation will stop a foreclosure.

Only a non-profit housing counseling agency or an attorney can file a petition for mediation. You cannot do it yourself.