You've heard this one before. Loan Mod, Short Sale and Foreclosure go out on a boat. A hefty storm forms, heavy seas rock the boat and the engine quits. A search of the boat reveals there is only one life vest aboard. The three workout options begin a debate as to which provides the greatest benefit going forward and therefore deserves the best chance at survival using the life vest. So here is the deal, the Captain says. This is his boat and his life vest. He will give you the dinghy. The only way you will make it to shore is to work together. This storm has cut a wide swath, so it's going to take a while. But the dinghy has made it through every storm the Captain has known. The issues associated with a fragmented approach to the loan workout challenge are lengthy and fraught with even longer-term consequences.