What is Loss and Mitigation? Mortgage loss and mitigation is a legal process where mortgage lenders work with homeowners to create a more affordable home loan scenario. The loss and mitigation process typically produces the following results:

Loan Modification – This is the fastest growing mortgage relief remedy – Let our attorneys negotiate with your mortgage lender to get your 1^st and 2^nd mortgages with lower rates and reduced monthly payments.

Bankruptcy – BK’s can certainly delay foreclosure but once you are actually in bankruptcy, your mortgage lender can actually force a foreclosure if you miss one payment.

Refinance – We have established relationships with very reputable lenders who offer FHA home loans, conforming and jumbo mortgage loans that are in default and risking foreclosure, but there must be significant equity, unless you qualify for FHA Hope for Homeowners loan that requires the lender to lower the mortgage balance to fair market value. 

Deed-in-lieu of Foreclosure – One option that is rarely available is to get your lender to agree to a deed in lieu of foreclosure.

Short Sale – If you decide that don’t want to keep your house, this is great alternative to just walking away.  Our team may be able to negotiate a Short Sale with your mortgage lender. In some cases, the bank may accept less than what you actually owe on the mortgage.  These days many mortgage lenders are accepting a short sale to prevent the high costs of the foreclosure process.