And with securitization of mortgages, original lender doesn't have skin in the game. The servicer has to follow the rules very tightly, so they will quickly go

And with securitization of mortgages, original lender doesn't have skin in the game. The servicer has to follow the rules very tightly, so they will quickly go for foreclosure, it doesn't matter if you call them and say you just got a job offer so you can pay in a month. If loans were held on the balance sheet of the bank, you'd call up a rep at the bank and they'd work with you to figure something out. Foreclosure is the last resort for the lender because they want you paying interest, they don't want to deal with running and selling a house.