Loss Mitigation: Tips for Negotiating with Mortgage Lenders to Stop Foreclosure

Deed in lieu of foreclosure is usually the last option offered by loss mitigation

. This strategy requires mortgagors to return their home to the lender and walk away. Borrowers who obtain deed in lieu contracts lose all money invested into the property. Borrowers are not entitled to any profits earned if the bank sells the home for more than the outstanding loan balance.

Loss Mitigation: Tips for Negotiating with Mortgage Lenders to Stop Foreclosure

By: Simon Volkov

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