Loss mitigation in mortgage is a process that lenders use to help borrowers avoid foreclosure and perhaps even stay in their homes. More commonly, lenders help you transition out of your home without ...

In an effort to help struggling borrowers stay in their homes, the US Department of Housing and Urban Development’s (“HUD” or “Department”) Federal Housing Administration (“FHA”) recently introduced ...

Falling behind on your mortgage payments is an incredibly stressful situation. When you miss multiple payments, the lender may start the foreclosure process to take possession of your home. However, ...

On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to ...

The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to balance the time frame and ...

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A coalition of six organizations representing mortgage companies and borrowers has sent a letter to the Federal Housing Administration (FHA), urging the extension of the current loss-mitigation ...

Loss mitigation is a collaborative process between borrowers and mortgage servicers to prevent foreclosure. It involves various strategies to help homeowners manage their mortgage payments and avoid ...

Loss mitigation is a way for mortgage lenders to help borrowers who are struggling to make their monthly payments avoid losing their homes. You can keep your home with many loss mitigation options, ...