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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Loss Mitigation Posted by karen on June 12, 2002 at 9:27 AM In Reply to: Loss Mitigation posted by Reinstatement Services, Inc. on June 12, 2002 at 8:02 AM : Once your loan becomes delinquent the loss mitigation department in your lender's organization should be able to assist you with finding a workable cure---whether that translates into retaining the property, short sale, or deeding the property to the lender. : You'll want to do everything within reason to avoid foreclosure. Aside from it being very damaging to your credit you risk a deficiency judgment or possible tax implications. Unless your mort co refuses to work with you as ours did. They wanted the equity and they got it. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Once your loan becomes delinquent the loss mitigation department in your lender's organization should be able to assist you with finding a workable cure---whether that translates into retaining the property, short sale, or deeding the property to the lender. : : You'll want to do everything within reason to avoid foreclosure. : Aside from it being very damaging to your credit you risk a deficiency judgment or possible tax implications. : Unless your mort co refuses to work with you as ours did. They wanted the equity and they got it. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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