James Outland

Loss mitigation refers to the process in which lenders work with borrowers to avoid foreclosure. This process is initiated when a borrower starts to have trouble making mortgage payments. The ultimate goal of loss mitigation is to help homeowners in distress and, at the same time, allow lenders to avoid the costly process of foreclosure. … Read more

What is a short sale? A short sale is the process of selling a home in a negative equity situation and obtaining approval from note holders to accept the sale. Who should consider a short sale? If all options have been exhausted and the home is headed toward foreclosure, then a short sale may be … Read more