Loan companies are proving ill-equipped to handle record foreclosures, particularly requests involving sales that would require lenders to accept losses on the loans, so-called short sales. The mortgage companies turn down offers — even though it may be more costly to seize the house in foreclosure — or they take so long to respond that the buyers move on, or don't respond at all. Homeowners, real estate brokers, and others who have tried to crack the system describe it as akin to a black hole.