LOAN WORKOUTS / LOSS MITIGATION
Falling behind on your mortgage does not mean that there are not any options available. I can help you with a defaulted account because each mortgage servicer has programs in place to work with consumers to find a solution to the defaulted mortgage account. Generally, this is called a Loan Workout or Loss Mitigation, depending on the servicer. Mortgage companies want paying customers so it is in their interest to work with you to find an agreement that works for both parties. However, mortgage servicing companies will also not just start accepting payments again without a new agreement in place. Most agreements have one of three different outcomes: a loan modification, short sale, or deed in lieu of foreclosure.