What Are Loss Mitigation Options? Some loss mitigation options, such as a loan modification, forbearance agreement, and repayment plan, allow the borrower to stay in the home. Other options, like a short sale or deed in lieu of foreclosure, help a borrower give up the property without going through foreclosure. How do you qualify for
What Is A Loss Mitigation Option? The term “loss mitigation” refers to a loan servicer’s duty to mitigate or lessen the loss to the investor (the loan owner) resulting from a borrower’s default. Given the costs that an investor must bear through the foreclosure process, loss mitigation is intended to be beneficial for the investor.
What Is The Loss Mitigation Process? Loss mitigation refers to the steps mortgage servicers take to work with a mortgage borrower to avoid foreclosure . … Loss mitigation options may include deed-in-lieu of foreclosure, forbearance, repayment plan, short sale, or a loan modification. What is a full loss mitigation? A complete loss mitigation application means