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Tags: Default, Department, Loss, Mitigation, Same
2 Responses to “Is Default Department The Same As Loss Mitigation Department?”
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Filled Under: Mortgage Loan Modification
January 26th, 2010 at 3:05 am
Sorry, I don’ t know.
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January 26th, 2010 at 3:16 am
No they are not the same. The default dept handles the loans that are going to be sent Notice of Default notices which have a date the property will be sold on and the person in default must be out before or on the date given.
The Loss Mitigation dept is where the lender is willing to work with the person either by refinance, limited hardship,etc.
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