Loss mitigation practices for most investors require mortgage delinquency for a short sale approval in the first place and that policy continues today.
If underwater homeowners were given an option to stay current through the short sale process, lenders would receive a greater net amount for the property.
If given the option, homeowners would stay current to keep credit built over a lifetime intact, even with hardship.
That is how important credit is to these consumers. Credit is the benchmark for the mortgage industry. This policy is knowingly destroying consumer credit and needs to be changed!