Loss Mitigation Blog

If you don’t qualify for a loan modification, there are other loss mitigation options you can look into. While they may not be as efficient, they help reduce damage to your credit compared to going into foreclosure. These include:

Short Sale: selling a home for less than the amount owed and giving up the proceeds to the lender

Deed in lieu of foreclosure: surrendering the deed to your home to the lender instead of going through the foreclosure process