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Home > Foreclosure Info > What Is Loss Mitigation? What Is Loss Mitigation? Definitions of Loss mitigation on the Web:
Loss mitigation a process to avoid foreclosure; the lender tries to help a borrower who has been unable to make loan payments and is in danger of defaulting on his or her loan - from homeloansandmortgages.com
Loss mitigation are activities designed to reduce either the likelihood of the corporation suffering financial losses on a loan or the final dollar value of those losses in the event of a borrower default. - from prosourcemortgage.com
"Effective use of loss mitigation not only allows families to retain
homeownership, it also significantly reduces the financial impact of
foreclosure claims against the FHA Insurance Funds. The savings
realized through loss mitigation are substantial and ultimately
reduce the mortgage insurance premiums paid by all FHA-insured
borrowers." read
US Loss Mitigation Services is a community counseling organization with twenty years of experience designed to help you bring your mortgage payments up-to-date. Using creative and often unconventional methods, all well within the Code of Federal Regulation guidelines, we stop the foreclosure process.
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