What is the definition of loss mitigation?

Answer Loss mitigation is the practice of preventing default and/or foreclosure on a home or property loan. It has become an important field of expertise for banks and mortgage companies seeking to lessen... Read More »

Top Q&A For: What is the definition of loss mitigation

Are loss mitigation specialists a rip-off?

On One Hand: Help Saving Your HomeLoss mitigation specialists are supposed to be experts in assisting homeowners with saving their home from foreclosure. Most have experience in the real estate or ... Read More »

What is the meaning of loss mitigation?

Loss mitigation is when a third party hired by the homeowner, bank division or a private company mediates a negotiation between the lender and borrower to help avoid a foreclosure. There are sever... Read More »

Loss Mitigation Procedures?

If you are falling behind on your mortgage payments because you have lost your job, lost time from work because of an illness or disability, or have had to care for a sick loved one, there are step... Read More »

How to Make Money in Loss Mitigation?

Loss mitigation is a term used by financial institutions when foreclosure on a home is a possibility and they try to mitigate or prevent losses. The lender tries to help a borrower who has been una... Read More »