New NC law to help slow the foreclosure process for those trying to work thing out with the bank. Who will promote it?

Governor Perdue signed this law into action last week.  Basically a home owner has to be given sufficient time to try to work out payments with a lender before the foreclosure process can start.  Here’s the story.

 There is also a trial loan modification program in the Obama plan that is available to people to stop the foreclosure process but as of yet only 12% of eligible barrower have started the process.  That should be much higher and I fear the problem is promotion.  The government does a decent job of setting up and funding programs but they are bad at promoting them.  For example: Cash for Clunkers; huge success!  Do you think it was the governments promotion of this made it a huge success.  NO It was the advertising experts i.e. car salesmen.  Who will promote loan modification?  I doubt it will be the lenders.  They really don’t seem to want to help people through that process.  Probably because it doesn’t fit into their current model of how they do business.  It seems to me a loan modification would be better than an REO for banks but who am I.