It's new! It's fun! Cut off your nose to spite your face! You'll make new friends! Be popular!

Headline: HOMEOWNER FEELS WALLS CLOSING IN (article available tomorrow @ http://pilotonline.com/)

The gist of the article:  

Homeowner (elementary school teacher) falls behind in mortgage payments.

Homeowner uses forclosure-prevention services (The Up Center) to negotiate with mortgagor (initials W.G).

Mortgagor (with help from forclosure-prevention entity) offers fair & reasonable payment plan.

Mortgagor (initials WG) ignores mortgagee (more or less says:  Kindly go take a flying f*@k.)

News paper publicizes mortgagee's plight.

Mortgagee (initials W.G.) suddenly wants to listen to mortgagee. 

Here's what I don't understand (aside from the obvious stupidity): 

It's my belief that the bank loses lot's of $ in foreclosures.  The real estate market sucks right now.  Probably  will for a good while.  Most mortgagee's lose more on foreclosure than they would be negotiating a good faith "deal" with the mortgagor.  I think they are just to proud and set in their ways and afraid of setting a bad precedent to do the logical thing.

I think that called "cutting off your nose to spite your face."

Please prove me wrong.

Email Wells Fargo @ corpcsf@wellsfargo.com