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2. What is loss mitigation? - AOL

   www.aol.com/finance/loss-mitigation-131710263.html

   Loss mitigation means a mortgage lender or servicer will offer relief or repayment options to a borrower struggling to keep up with their loan payments. Your servicer might refer to this process ...

3. Loss mitigation - Wikipedia

   en.wikipedia.org/wiki/Loss_mitigation

   Loss Mitigation was only needed for extreme cases due to the homeowners ability to repeatedly refinance and avoid defaulting. Beginning in 2007 the mortgage industry nearly collapsed. Large numbers of lenders went out of business and the rest were forced to eliminate all of the loan programs that were most prone to foreclosure. [6]

4. Loan modification in the United States - Wikipedia

   en.wikipedia.org/wiki/Loan_modification_in_the...

   Extending the length of the mortgage loan as appropriate; Reducing the mortgage loan interest rate in increments of 0.125 percent to an interest rate that is not less than 3 percent. If the new rate is set below the market interest rate, after five years it will step up in annual increments to either the original loan interest rate or the ...

5. Hope Now Alliance - Wikipedia

   en.wikipedia.org/wiki/Hope_Now_Alliance

   Hope Now describes the assistance that it provides to homeowners as loan workouts, a form of loss mitigation. These workouts can either result in establishing a modified repayment plan with the homeowner to bring them up to date, or a loan modification where the terms of the mortgage are modified in order to make the loan serviceable for the ...

6. Flex Modification Program (FMP): Everything you need to know

   www.aol.com/finance/flex-modification-program...

   The Flex Modification program is a conventional loan modification program designed to help homeowners who are experiencing long-term or permanent financial hardship. Using this program can help ...

7. Mortgage loan modification: What it is and how to get one - AOL

   www.aol.com/finance/mortgage-loan-modification...

   USDA loan modification: With a USDA loan, you can modify your mortgage with an extended term of up to 40 years, reduce the interest rate and receive a “mortgage recovery advance,” a one-time ...

8. Real Estate Settlement Procedures Act - Wikipedia

   en.wikipedia.org/wiki/Real_Estate_Settlement...

   Not proceed with the foreclosure process when the borrower has submitted a complete application for loss mitigation options, and; Not pay kickbacks or pay referral fees to settlement service providers (e.g., appraisers, real estate brokers/agents and title companies)

9. Mortgage application: What’s included and how to prepare - AOL

   www.aol.com/finance/mortgage-application...

   Here are questions to expect on a mortgage application. What is included in a mortgage application? The mortgage application is an individual’s formal request for funds to purchase a specific ...