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February 25, 2008
Be Nice to the Bank Loss Mitigator!
A Loss Mitigator is an individual who helps homeowners stop foreclosure. Loss mitigators either work directly for the Loss Mitigation Department of a bank or lending institution, as a representative for the lien holder, or an independent agent who works strictly for the best interests of the homeowner.
The main function of a Loss Mitigator is to devise a plan that will allow the homeowner to remain in their home. One of the most common options Loss Mitigators present to homeowners is known as Loan Modification. This type of arrangement allows the homeowner to make partial payments for past due payments and extends the loan terms.
Real Estate Investing article on "Be Nice to the Bank Loss Mitigator!"
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