In Boston, a Lender Steps in After Foreclosures

Jane Petion lived in her home for 15 years and saw its value rise slowly, rise rapidly and, when the housing bubble burst, plunge at a sickening pace that left her owing $400,000 on a house worth closer to $250,000. Last June, her lender foreclosed on the property. The family received notices of eviction and appeared in housing court.

Then they discovered a surprising paradox within the nation's housing crisis: Their power to negotiate began after foreclosure, rather than ending there, John Leland reports in The New York Times.

Read the full NYT article @ http://nyti.ms/aLEH3h