What is loss mitigation? Loss mitigation refers to the mortgage servicers responsibility to the borrower and helping the borrower avoid foreclosure. There are many options for borrowers who may be struggling to make loan payments. Forbearance is not the only option, and may not be a solution long-term.
Here’s a link providing options in addition to forbearance https://www.consumerfinance.gov/consumer-tools/mortgages/answers/key-terms/#loan-modification
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