March 3rd, 2009
Loss Mitigation Short Sale Vs Loan Modification
Are you wondering if you might be a candidate for loss mitigation short sale? How do you know if you should pursue a short sale?
Today’s troubled economy and failing real estate market is causing many homeowners to be at risk for foreclosure. There are a variety of reasons that may cause homeowners to fall behind on their payments such as job loss, illness, divorce or poor money management. Whatever the cause, foreclosure should be avoided if at all possible. One alternative to foreclosure is a loss mitigation short sale. Short sale agreements must be negotiated with the lender; more specifically their loss mitigation department.